Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I move amendment No. 4:

In page 9, to delete lines 24 to 35, and in page 10, to delete lines 1 to 5 and substitute the following:"(a) in subsection (1)(a) by substituting the following for the definition of "qualifying interest":

" 'qualifying interest', in relation to an individual and a year of assessment, means—

(i) as respects a year of assessment before 2018, the amount of interest paid by the individual in respect of a qualifying loan,

(ii) as respects the year of assessment 2018, 100 per cent of the amount of interest paid by the individual in respect of a qualifying loan,

(iii) as respects the year of assessment 2019, 75 per cent of the amount of interest paid by the individual in respect of a qualifying loan,

(iv) as respects the year of assessment 2020, 50 per cent of the amount of interest paid by the individual in respect of a qualifying loan, and

(v) as respects the year of assessment 2021, 25 per cent of the amount of interest paid by the individual in respect of a qualifying loan;",

(b) in subsection (1A)(b) by substituting "2021" for "2017",

(c) in subsection (2)(a)(ii) by substituting "2021" for "2017", and".

Baineann an leasú seo le daoine atá ag díol úis ar a gcuid morgáistí. Mar atá a fhios againn, sa Bhille atá os ár gcomhair anocht ní bhfaighidh siad ach faoiseamh de 75% fá choinne 2018 ach sa leasú atá curtha síos agamsa gheobhaidh siad faoiseamh de 100%. Tá an leasú curtha síos agam sa dóigh is nach gcaillfeadh aon cheann de na teaghlaigh amach ar an fhaoiseamh atá siad ag fáil ó thaobh an úis atá siad ag díol. Tá a fhios agam go bhfuil go leor teaghlaigh go fóill i gcruachás. Tá níos mó ná 80,000 teaghlach amuigh ansin nach bhfuil ábalta a gcuid morgáistí a dhíol bliain i ndiaidh mbliana agus mí i ndiaidh míosa agus tá sé seo go trom ar a gcuid guaillí. Mar atá a fhios againn, tá 292,000 teaghlach ag baint úsáid as an fhaoiseamh úis seo agus tá sé tábhachtach go mbeadh an faoiseamh sin ann go dtí, ar a laghad, go bhfuil an fhadhb mhór atá againn ó thaobh morgáistí réitithe.

Given that the mortgage crisis is still very much alive and raging with over 80,000 families in mortgage distress and many families each week losing their homes, I note that 292,000 families benefit from mortgage interest relief. While this Bill will restrict that mortgage interest relief next year to 75%, this amendment will ensure that in 2018, all those families will be able to get 100% relief if entitled to it. Caps already are in place to prevent anybody from benefitting excessively. I commend this amendment to the House.

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