Olivia Mitchell (Dublin South, Fine Gael)
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Question 91: To ask the Minister for Finance if the mortgage interest relief announced in the 2012 budget for those who bought their homes between 2004 and 2008 may be claimed by those who have been forced into rented accommodation themselves and who are renting out the mortgaged property to try and maintain mortgage payments; and if he will make a statement on the matter. [41340/11]

Michael Noonan (Limerick City, Fine Gael)
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The legislation setting out the detail of the proposed new 30% rate of mortgage interest relief announced in my Budget speech will be published in the forthcoming Finance Bill. However, the new rate of relief will be available only to individuals who bought their homes between 2004 and 2008 where such homes are the sole or main residence of the individuals. The proposed new rate of relief will not be available to individuals who bought their homes between 2004 and 2008 and who are now renting out that property. An individual who rents out a residential property is allowed a deduction in computing the taxable rents from that letting of 75% of the interest accruing on money borrowed to purchase, improve or repair that property.