Dáil Éireann Debate, Wednesday - 9 October 2024
76. Deputy Pearse Doherty asked the Minister for Finance to outline the details and rationale for extending the rent relief to pre-letting expenses announced as part of Budget 2025; the number of people that will benefit from this relief; and if he will make a statement on the matter. [40640/24]
View answerSection 97A Taxes Consolidation Act 1997, introduced in Finance Act 2017, allows a deduction (capped at €10,000 per premises) from rental income for certain pre-letting expenditure on properties which have been vacant for at least six months and are subsequently let. To qualify, the expenditure must be incurred in the twelve months immediately prior to the letting.
Relief for pre-letting expenses for landlords is being extended to continue to help owners of vacant property to bring that accommodation into the rental system increasing the overall supply of rental accommodation.
As the measure is demand led, it is not possible to state how many claims will be made in the future. However, the number of people who have availed of this relief is available on Revenue's Cost of Tax Expenditures Table at the below link:
www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/cost/costs-expenditures.aspx.
For the ease of the Deputy I have provided a table of the number of people who have availed of the relief from inception of the scheme to 2022 (the most recent date for which data are available) below:
|
Year |
Claims |
|
2022 |
1,008 |
|
2021 |
1,009 |
|
2020 |
1,012 |
|
2019 |
1,031 |
|
2018 |
1,101 |
|
2017 |
677 |
