Michael McGrath (Cork South Central, Fianna Fail)
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58. To ask the Minister for Finance the number of persons who have been approved for the home renovation incentive since its inception; and if he will make a statement on the matter. [9894/14]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, I announced the Home Renovation Incentive in the recent Budget. This scheme came into operation on 25 October 2013 and will run until 31 December 2015. It 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 (inclusive of VAT). 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. The scheme will be administered through Revenue s online systems. Contractors will be required to inform Revenue in advance of details of works to be carried out and will also be required to notify Revenue in relation to any payments received in respect of the works. Homeowners will be able to view the information provided to Revenue by the contractor through the Revenue electronic systems and will also claim the relief through those systems. It is anticipated that this system will 'go live' in early April 2014. Contractors will need to enter the details of works carried out within 28 of the electronic system becoming available. Until the system is live and details of works carried out are entered, there are no figures available on the incentive.

Full details of the scheme are available on the Revenue website at along with a newly produced Guide for Homeowners. Copies of the Guide are being distributed to all local Revenue Offices and Citizens Advice centres.

Michael McGrath (Cork South Central, Fianna Fail)
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59. To ask the Minister for Finance the number of persons who have been approved for the start your own business relief since its inception; and if he will make a statement on the matter. [9895/14]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been unemployed for a period of 12 months and who start a new, un-incorporated business between 25 October 2013 and 31 December 2016. An exemption from Income Tax will be provided on profits up to a maximum of €40,000 per annum for the first two years of trading. However, USC and PRSI will continue to be payable. If a loss is incurred then loss relief will be available in the normal manner. The business must be un-incorporated i.e., it must not be registered as a company. In order to claim this relief, the individual must file a tax return notwithstanding that there may be no liability to tax. This initiative is an employment activation measure that provides a much-needed incentive for people to start their own business and to reduce their dependence on welfare payments. There is no requirement for an individual to register in order to claim the relief. Instead, the individual will claim the relief by completing the relevant boxes in his or her annual income tax return. Therefore, until the individuals who avail of this relief file their tax returns for the 2014 tax year next year, it will not be possible to know how many individuals are availing of this relief. Full details of the initiative can be found on the Revenue website at: .