Clare Daly (Dublin North, Socialist Party)
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Question 50: To ask the Minister for Finance the number of persons availing of tax relief under section 482 of the Taxes Consolidation 1997 Act; and the cost to the Exchequer. [35291/11]

Michael Noonan (Limerick City, Fine Gael)
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Section 482 of the Taxes Consolidation Act, 1997 provides for tax relief for expenditure incurred on the repair, maintenance or restoration of approved buildings or gardens. For a building or garden to be approved it must:

be a building or garden which is intrinsically of significant scientific, historical, architectural or aesthetic interest, as determined by the Minister for Environment, Heritage and Local Government. A garden may also be determined as being intrinsically of significant horticultural interest, and

be reasonably accessible to members of the public, as determined by the Revenue Commissioners.

The most recent year for which the necessary detailed statistical information is available is 2009. The estimated cost of the scheme to the Exchequer for that year was €4.6 million and the number availing of it was 150. Finance Act 2010 introduced changes to the scheme such that from the 2010 tax year passive investors would no longer qualify for the relief. At that time it was estimated that this measure would eventually reduce the cost of the scheme to €3 million per annum.