Brian Lenihan Jnr (Dublin West, Fianna Fail)

The Revenue Commissioners have made it clear that in the implementation of this measure there will be no change for a first-time buyer. For those who have improved their houses or traded up to another house and taken out a mortgage in the last seven years, the interest relief continues to be available. However, the Revenue Commissioners have made it clear that non-first time buyers do not need to do anything at this stage. The Revenue Commissioners will make the necessary administrative arrangements, in liaison with the financial institutions for the relevant deductions. It may take two months for this arrangement to be finalised by the Revenue Commissioners. Deputies will appreciate the enormous volume of work the Revenue Commissioners need to do in the implementation of a measure of this character. The Revenue Commissioners have made it clear that non-first time buyers do not need to do anything at this stage.

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