Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The triggering event must be the expenditure of €5,000. If someone were to spend €2,500 in 2014 and a further €3,000 in 2015, the scheme would be triggered in 2015, as the €5,000 threshold would then be exceeded, at which point he or she could claim on the €2,500 spent in 2014. That is how it will work.