Barry Cowen
Ceist:24. Deputy Barry Cowen asked the Minister for Finance how many rent tax credit claims have been made as of 31 March 2024, or the latest date available; and if he will make a statement on the matter. [14272/24]
Amharc ar fhreagraWednesday, 10 April 2024
Ceisteanna (24, 41)
Alan Farrell
Ceist:41. Deputy Alan Farrell asked the Minister for Finance to provide an update on the number of people who have claimed the renters tax credit, in 2023 and 2024 respectively; and if he will make a statement on the matter. [15223/24]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 24 and 41 together.
The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025.
I am advised by Revenue that the Rent Tax Credit statistics currently available refer only to claims by PAYE taxpayers. Data on claims by self-assessed taxpayers are not yet available. These data will be available, in respect of the 2022 year of assessment, later in Q2 2024 when the self-assessed tax returns for that year, filed in late 2023, are fully analysed.
Claims in respect of the 2022 and 2023 years of assessment can still be made by PAYE taxpayers by submitting an Income Tax return for the relevant year. For claims relating to 2024, PAYE taxpayers have the option of claiming the Rent Tax Credit due to them as rent is incurred through Revenue’s easily accessible on-line MyAccount service or at the end of the year through their Income Tax return.
Rent Tax Credit claims are made are on a ‘taxpayer unit’ basis. A taxpayer unit is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment.
I am further advised that as of 3 April 2024, over 547,440 Rent Tax Credit claims have been made by 344,792 taxpayer units consisting of:
(i) 99,548 taxpayer units that made claims for 2022 only,
(ii) 143,404 taxpayer units that made claims for both 2022 and 2023,
(iii) 5,091 taxpayer units that made claims for both 2022 and 2024,
(iv) 58,563 taxpayer units that made claims for 2023 only,
(v) 9,413 taxpayer units that made claims for both 2023 and 2024,
(vi) 6,403 taxpayer units that made claims for 2024 only,
(vii) 22,370 taxpayer units that made claims for 2022, 2023, and 2024.