Terence Flanagan (Dublin North East, Fine Gael)
Link to this: Individually | In context

Question 68: To ask the Minister for Finance if he will respond to a proposal (details supplied) regarding 75% interest restriction for residential investors; and if he will make a statement on the matter. [23015/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

As noted in the proposals, which the Deputy has submitted, the level of tax relief investors can claim on the interest for mortgages and loans on residential rental properties was reduced to 75% of the interest accrued from 7th April 2009 under Section 5 of the Finance Act 2009. The proposals submitted, will be examined in tandem with the normal process of reviewing and considering taxation measures and reliefs, in the context of the budgetary process. The proposals also note concerns relating to the possible withdrawal of the "legacy" property-related tax relief schemes, which are the subject of an impact assessment. The results of this impact assessment will be addressed in the context of the forthcoming Budget.