Michael McGrath (Cork South Central, Fianna Fail)
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251. To ask the Minister for Finance if a person wishing to avail of the DIRT, deposit interest retention tax, relief for first-time buyers will be required to open a designated account for such purposes; if DIRT paid in previous years will be eligible for the relief if the person can demonstrate it is to be used for a deposit for a house purchase; and if he will make a statement on the matter. [40447/14]

Michael Noonan (Limerick City, Fine Gael)
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First-time buyers will not be required to open a designated account for the purpose of availing of this relief.

On the conveyance of a relevant property first-time buyers will be entitled to claim a refund of DIRT paid in the previous 48 months in respect of savings used to purchase that property.

DIRT will be refunded in respect of savings up to a maximum of 20% of the purchase price of the property.