I move:
(1) THAT section 477C of the Taxes Consolidation Act 1997 (No. 39 of 1997) be amended—
(a) in subsection (5A), by the substitution of “6 October 2026” for “31 December 2029”, and
(b) by the insertion of the following subsection after subsection (5A):
“(5B) Where an individual has, in that part of the qualifying period beginning on 7 October 2026 and ending on 31 December 2029, either—
(a) entered into a contract with a qualifying contractor for the purchase by that individual of a qualifying residence, that is not a self-build qualifying residence, or
(b) drawn down the first tranche of a qualifying loan in respect of that individual’s self-build qualifying residence,
paragraph (a) of subsection (5) shall apply subject to the following modifications:
(i) in subparagraph (i) of that paragraph, ‘€35,000’ shall be substituted for ‘€20,000’;
(ii) in subparagraph (iii) of that paragraph, ‘10 per cent’ shall be substituted for ‘5 per cent’.”.
(2) THAT this Resolution shall have effect on and from 7 October 2026.
(3) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act 1927 (No. 7 of 1927).
Help to buy is a tax-based scheme to assist first-time buyers with the deposit they need to buy or build a new house or apartment. It also aims to encourage additional supply of new houses by supporting demand and provides a refund of income tax and deposit interest retention tax paid in Ireland over the previous four years, subject to certain limits. Based on the latest available data, as of 31 August 2026, some 69,000 help-to-buy claims were approved, with 125,702 applicants associated with these claims. The total value of approved help-to-buy claims to date is in the order of €1.6 billion.
In July 2020 the scheme was amended so that the level of relief available for first-time buyers was increased to the lesser of €30,000, from €20,000, and 10%, increased from 5%, of the purchase price of a new home or self-build property. Financial Resolution No. 1 provides for the further increase announced in the budget of the maximum amount of relief available by €5,000, bringing the maximum amount of the relief available from €30,000 to €35,000. The level of support available to first-time buyers under the help-to-buy scheme will now be €35,000 or 10% of the purchase price of the new property or the amount of income tax and DIRT paid in the four years before application for the relief. This change will be effective from today's date and will apply to applicants who sign a contract for the purchase of a new house or who have yet to make the first drawdown of the mortgage in the case of a self-build. All other parameters of the scheme will remain the same. Today's proposal will provide additional support to a great many first-time buyers.
In 2025, some 65% of help-to-buy claimants would have been in a position to benefit from this increase. It ensures taxpayers can get more of their own money back while they are buying their first property. Without this financial resolution giving effect to the increased relief immediately, there is a risk of market disruption. First-time home buyers who qualify for the help to buy might have an incentive to wait until the finance Bill is enacted before signing the contract to purchase a new-build home. In the same vein, a self-builder benefiting from the help to buy might be incentivised to delay work on their new home. Housing is the Government’s number one priority. This measure is one of many announced earlier today to support renters and homeowners as they wish to buy their first home.
