John Lyons (Dublin North West, Labour)
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148. To ask the Minister for Finance if consideration will be given to tax reliefs for management company fees; and if he will make a statement on the matter. [20035/14]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, Mortgage Interest Relief was abolished for new home purchasers in 2013. However, in recogntion of the peak in house prices, the relief is still available for first time buyers who took out their first mortgage between 2004 and 2008. This relief will continue up to and including the 2017 tax year. In addition, rent relief was abolished in Budget 2011 for new claimants. Existing claimants will see a gradual reduction in the amount of tax relief available with a complete cessation of relief in 2017.

In relation to rental property, section 97(2)(d) of the Taxes Consolidation Act 1997 provides for a deduction in computing taxable rent in respect of the cost of maintenance, repairs, insurance and management of the property. As the Deputy will appreciate, I receive numerous requests for the introduction of new tax reliefs and the extension of existing ones. The Deputy will also appreciate that I must be mindful of the public finances and the many demands on the Exchequer given the significant budgetary constraints.  Tax reliefs, no matter how worthwhile in themselves, reduce the tax base and make general reform of the tax system that much more difficult.