Dáil Éireann Debate, Tuesday - 7 March 2023
226. Deputy Peter Fitzpatrick asked the Minister for Finance if he will clarify the criteria in relation to the first-time buyers grant (details supplied); and if he will make a statement on the matter. [10921/23]
Amharc ar fhreagraHelp to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to certain limits.
Section 477C of the Taxes Consolidation Act 1997 requires that applicants for the HTB scheme must be first-time purchasers, which is defined as:"an individual who, at the time of a claim under subsection (3) has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his or her own behalf a dwelling;" There are no exceptions to the HTB definition of first time purchaser. This includes circumstances where there is more than one person involved in the purchase or building of a new home.
The intention behind this is to target the tax relief on those who have not had the opportunity to build up equity in another property which could be used to purchase the second or subsequent property and those who could not have availed of HTB relief previously.
