Enda Kenny (Mayo, Fine Gael)
Link to this: Individually | In context

Question 228: To ask the Minister for Finance if, in view of home mortgage interest secured loans, the cost of this relief to the Exchequer for the years 2002 to 2005, inclusive; if there are ceilings applied to the amount of loan and the amount of interest; and if he will make a statement on the matter. [4529/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed for mortgage interest relief under the tax relief at source, TRS, system in each of the years 2002 to 2005 inclusive is:

The position is that section 244 of the Taxes Consolidation Act 1997 places limits on the amount of interest for which mortgage interest relief may be claimed. In the case of first-time buyers in the first seven years of a mortgage, the limits are €4,000 per year for a single person and €8,000 per year for a married couple. For those who are other than first time buyers in the first seven years, the limits are €2,540 per year for a single person and €5,080 per year in the case of a married couple. Section 244 does not impose any ceiling on the size of mortgages to which the relief applies or on the amount of interest that might be charged on such mortgages.

Enda Kenny (Mayo, Fine Gael)
Link to this: Individually | In context

Question 229: To ask the Minister for Finance if, in view of medical insurance premia, the relief given to taxpayers for years 2002, 2003, 2004 and 2005, inclusive; and if he will make a statement on the matter. [4530/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed for medical insurance premia in the tax relief at source, TRS, system in each of the years 2002 to 2005 inclusive is:

Enda Kenny (Mayo, Fine Gael)
Link to this: Individually | In context

Question 230: To ask the Minister for Finance if, in view of subscriptions to trade unions in respect of which the tax credit of the standard rate of income tax 20% is available the tax credit for 2006; the relief granted for 2002-2005, inclusive; and if he will make a statement on the matter. [4531/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

The Finance Act 2001 introduced income tax relief for trade union subscriptions paid to specified trade unions for 2001 and subsequent years. The relief was introduced in recognition of the role played by the trade union movement in Irish society.

As the Deputy will be aware, I announced in Budget Statement 2006 that the standard rated tax allowance in respect of subscriptions paid by members of trade unions is being increased from €200 to €300 per annum. This is equivalent to a tax credit of €60 per annum and applies regardless of the level of subscription paid. I am informed by the Revenue Commissioners that the most recent year for which complete relevant information is available on relief for trade union subscriptions relates to the income tax year 2002, in respect of which some 229,600 claims for tax relief were allowed at an estimated cost to the Exchequer of approximately €11 million.

Enda Kenny (Mayo, Fine Gael)
Link to this: Individually | In context

Question 231: To ask the Minister for Finance if, in view of service charges for which relief is given for charges paid in the previous year and in respect of which there are other limits, the cost of the relief granted for the income tax years 2002 to 2005, inclusive; the limits applied to each of these years; and if he will make a statement on the matter. [4532/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the most recent year for which complete information on tax relief is available in respect of local authority service charges is for the income tax year 2002. In that year an estimated number of 124,900 claimants availed of the tax relief for the service charges at an estimated cost to the Exchequer of €5.2 million.

Relief for service charges is allowed at the standard rate of tax in respect of charges taxpayers have paid in the previous financial year. For the financial years 2002 to 2004, where a fixed annual charge applied, the full amount of the payment qualified for tax relief provided it had been paid on time. Where a variable charge was applied for refuse collection, based on weight or volume, the tax relief was restricted to a maximum expenditure of €195 per annum.