Gerald Nash (Louth, Labour)
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86. To ask the Minister for Finance if he will consider including in the Finance (No. 2) Bill 2013 requirements around improvements to energy efficiency under the tax rebate on home improvements scheme; and if he will make a statement on the matter. [48010/13]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. Qualifying expenditure is expenditure subject to the 13.5% VAT rate. The work must cost a minimum of €5,000 (exclusive of VAT) which would attract a credit of €675. Where the cost of the work exceeds €30,000 (exclusive of VAT) a maximum credit of €4,050 will apply. The credit is payable over the two years following the year in which the work is carried out. Works carried out between 25 October 2013 and 31 December 2013 will be considered to have taken place in 2014 for the purposes of awarding the tax credit.

There is no specific requirement to improve the energy efficiency of the residence, but works which are grant-aided by the SEAI under the Better Energy Homes Scheme will also qualify for the incentive. Three times the amount of the grant will be deducted and any additional expenditure will attract the tax credit of 13.5%.