Dáil debates

Tuesday, 14 October 2008

Financial Resolution No. 3: Income Tax

 

With regard to the second resolution relating to mortgage interest relief, the tax relief for interest paid on home loans is granted subject to certain limits at a rate equal to the standard rate of tax, 20%, for all taxpayers. The relief is granted at source by the lender under what is known as the tax relief at source, TRS, system. This system, although broadly revenue neutral is aimed at refocusing the benefit of the relief towards those individuals whose mortgages generally put a greater financial burden on them.

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