Joan Burton (Dublin West, Labour)
Link to this: Individually | In context

Question 90: To ask the Tánaiste and Minister for Finance the cost of doubling the level of rent relief available for tenants; if his attention has been drawn to the growing number of tenants who have to pay stamp duty on one year leases; if his Department has statistics on same; and the number of tenants so affected. [29559/07]

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 the cost of rent relief to the Exchequer is available is for the income tax year 2004. Using that data, the full year cost to the Exchequer of rent relief is projected at €69 million in 2007 terms. On this basis, a doubling of the allowance could cost in the region of an additional €69 million but could be less, depending on the extent to which the additional tax relief could be absorbed by claimants and assuming no significant increase in the level of take up by taxpayers.

One year leases of dwelling houses at a rent not exceeding €19,050 per annum are exempt from stamp duty. The particulars of one year leases that are chargeable to duty are aggregated in Revenue's stamp duty records with the details of other leases, both residential and non-residential, and cannot be separately distinguished for analytical purposes. Accordingly, it is not possible to provide specific statistical information in respect of one year leases.