Jim O'Callaghan
Ceist:74. Deputy Jim O'Callaghan asked the Minister for Finance further to Parliamentary Question No. 369 of 9 September 2024, if he could supply updated figures with regard to same. [43575/24]
Amharc ar fhreagraWednesday, 23 October 2024
Ceisteanna (74)
Freagraí scríofa
The Rent Tax Credit (RTC), 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 informed by Revenue that 273,160 taxpayer units benefited from the RTC for 2022, as set out in Revenue’s ‘Cost of Tax Expenditures’ publication which is available on the Revenue website, at www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/cost/index.aspx. 313,980 taxpayer units claimed the RTC for 2022.
The extent to which a claimant benefits from a tax credit, through a reduced tax liability and/or receipt of a refund for overpayment of a tax liability, is determined by their gross tax liability and use of other tax credits and reliefs. These numbers include both PAYE and self-assessed taxpayer units. 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, in which case they are counted as one taxpayer unit.
The table below provides a breakdown of the number of taxpayer units who benefited from the credit in 2022.
|
County |
2022 |
|
CARLOW |
2,310 |
|
CAVAN |
2,220 |
|
CLARE |
3,490 |
|
CORK |
30,660 |
|
DONEGAL |
3,290 |
|
DUBLIN |
128,550 |
|
GALWAY |
18,140 |
|
KERRY |
4,220 |
|
KILDARE |
10,090 |
|
KILKENNY |
3,030 |
|
LAOIS |
2,250 |
|
LEITRIM |
890 |
|
LIMERICK |
11,810 |
|
LONGFORD |
1,520 |
|
LOUTH |
3,650 |
|
MAYO |
3,900 |
|
MEATH |
5,430 |
|
MONAGHAN |
1,890 |
|
OFFALY |
2,200 |
|
ROSCOMMON |
1,690 |
|
SLIGO |
2,990 |
|
TIPPERARY |
4,810 |
|
WATERFORD |
4,890 |
|
WESTMEATH |
3,790 |
|
WEXFORD |
4,280 |
|
WICKLOW |
3,800 |
|
Not available |
7,380 |
|
Total |
273,160 |
In relation to later years, the table below refers to claims by PAYE taxpayers for 2023 and 2024, to-date. The data on claims by self-assessed taxpayers are not yet available for 2023 and 2024. Most claims for credits by PAYE taxpayers take place after the year-end, and it is expected that the bulk of claims for 2024 will not be made until 2025.
The table sets out the number of claims by PAYE taxpayers by year of assessment and by county for 2023 and 2024 to 21 October.
|
County |
2023* |
2024* |
|
CARLOW |
2,430 |
600 |
|
CAVAN |
2,480 |
600 |
|
CLARE |
3,530 |
990 |
|
CORK |
29,900 |
8,290 |
|
DONEGAL |
3,470 |
960 |
|
DUBLIN |
130,110 |
37,760 |
|
GALWAY |
18,070 |
5,330 |
|
KERRY |
4,210 |
1,020 |
|
KILDARE |
10,140 |
2,840 |
|
KILKENNY |
3,050 |
800 |
|
LAOIS |
2,120 |
640 |
|
LEITRIM |
860 |
240 |
|
LIMERICK |
12,280 |
3,480 |
|
LONGFORD |
1,660 |
370 |
|
LOUTH |
3,970 |
1,050 |
|
MAYO |
4,050 |
1,110 |
|
MEATH |
5,760 |
1,420 |
|
MONAGHAN |
2,070 |
480 |
|
OFFALY |
2,350 |
610 |
|
ROSCOMMON |
1,820 |
510 |
|
SLIGO |
2,970 |
820 |
|
TIPPERARY |
5,010 |
1,270 |
|
WATERFORD |
5,180 |
1,470 |
|
WESTMEATH |
4,070 |
1,140 |
|
WEXFORD |
4,350 |
1,170 |
|
WICKLOW |
3,550 |
1,040 |
|
Not Currently Available |
3,250 |
710 |
|
Total |
272,700 |
76,710** |
*Note: figures have been rounded to the nearest 10.
** In the case of 2024 claims, it is the case that most taxpayers claim the relief after the end of the tax year rather than in-year.