Dáil Éireann Debate, Thursday - 24 October 2024
136. Deputy Colm Brophy asked the Minister for Finance the cost of increasing the exemption limit of €14,000 to €16,000, €18,000 and €20,000 under the rent-a-room tax relief scheme, based on no increase in take-up compared to 2023 levels. [43743/24]
Amharc ar fhreagra137. Deputy Colm Brophy asked the Minister for Finance the cost of increasing the exemption limit of €14,000 to €16,000, €18,000 and €20,000 under the rent-a-room tax relief scheme, based on a 10% increase in take-up compared to 2023 levels. [43744/24]
Amharc ar fhreagraI propose to take Questions Nos. 136 and 137 together.
I am advised by Revenue that it is not possible to estimate the costs for the changes to the rent a room scheme as suggested by the Deputy.
Taxpayers with rental income in excess of the current rent-a-room limit are taxed on their entire rental income in the normal way. It is not possible for Revenue to identify which taxpayers with rental income could qualify for this scheme, with the proposed changes, as it is not possible to determine if they would meet the eligibility criteria for rent-a-room, specifically if those declaring rental income are in receipt of this income from letting out a room in their own house.
I am also advised by Revenue that the numbers availing of the rent-a-room relief and the cost to the Exchequer can be obtained by consulting Revenue’s Cost of Tax Expenditures report, which can be found on the Revenue website at:
www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/cost/index.aspx.
