James Bannon (Longford-Westmeath, Fine Gael)
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Question 178: To ask the Minister for Finance if the purchaser of a new property, subject to section 23 or rural renewal scheme tax relief, at a current fire sale price, is entitled to the full scale previously sanctioned tax breaks, based on the original intended sale price, or is this adjusted down to reflect the reduction in the final and actual sale price, or if the original tax concession based on approximately 90 per cent of the construction costs remain unchanged on finished properties; and if he will make a statement on the matter. [41033/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The amount of "section 23 type relief" which is available on any particular rented residential property is always calculated as a proportion of the price actually paid by the purchaser for that property. In essence, a proportion of the cost to the builder/developer, which is attributable to his/her acquisition of the site, is taken outside the scope of the relief. The figure of 90%, in the case the Deputy has referred to in his question, implies that 10% of the total costs to the builder/developer related to site costs.

In these circumstances, the amount of section 23 relief available would be calculated at 90% of the price paid by the purchaser, whether that be a fire-sale price or otherwise. It is not based on the price at which the property might originally have been on the market. This is on the assumption that all the construction costs were incurred in the appropriate qualifying period since these schemes have by now all been terminated.

Ned O'Keeffe (Cork East, Fianna Fail)
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Question 179: To ask the Minister for Finance if he will assist in having a specific refund made to a person (details supplied) in County Cork. [41041/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I have been informed by the Revenue Commissioners that the claim for a refund in this case was not due in accordance with Section 865 Taxes Consolidation Act, 1997 (4) (b) (ii) which provides that a claim for repayment of tax under the Acts for any chargeable period shall not be allowed unless it is made, in relation to any chargeable period beginning on or after 1 January 2003, within 4 years after the end of the chargeable period to which the claim relates.

The claim was made by the person in question in September 2010 and was for the period July/August 2010. The invoices to support this claim were requested and they were all dated 20th June 2006. This is outside the 4-year rule for repayments.

If the person would like to speak to a Revenue official they may contact Ms. Imelda Hanlan, Revenue House, Blackpool, Cork on telephone 021 6027264.