Written answers
Thursday, 16 June 2005
Department of Finance
Tax Code
5:00 pm
Paul McGrath (Westmeath, Fine Gael)
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Question 73: To ask the Minister for Finance the amount of tax credits available annually to categories of persons (details supplied) who are paying rent to a private landlord. [20457/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that section 473 of the Taxes Consolidation Act, 1997 provides for an allowance at the standard rate of tax for an individual who proves for a year of assessment that he or she has paid rent for private rented accommodation used as his or her main residence. The maximum relief available is as set out in the following table:
Under 55 years of age | Over 55 years of age | ||||
Maximum relief @ standard rate | Equivalent maximum tax credit | Maximum relief @ standard rate | Equivalent maximum tax credit | ||
â'¬ | â'¬ | â'¬ | â'¬ | ||
Category 1 | Married person on joint assessment | 3,000 | 600 | 6,000 | 1,200 |
Category 2 | Widowed person | 3,000 | 600 | 6,000 | 1,200 |
Category 3 | Any other person | 1,500 | 300 | 3,000 | 600 |
Category 3 may include a single person, a separated spouse, a divorced person or a married person electing to be assessed as a single person. Generally, where a marriage has been annulled, the parties to the marriage are assessed to tax as single persons. The quantum of the relief is not affected by the fact that a claimant may have dependent children regardless of whether they reside with the claimant.
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