Written answers
Thursday, 12 February 2015
Department of Finance
Mortgage Interest Relief Expenditure
Michael McGrath (Cork South Central, Fianna Fail)
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75. To ask the Minister for Finance if he will provide, in tabular form, the number of persons or mortgage accounts in receipt of tax relief at source, in each year from 2012 to 2014; the projected cost of the scheme in 2015; and if he will make a statement on the matter. [6525/15]
Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that, on the basis of returns in respect of eligible tax relief at source (TRS) accounts, it is estimated that the number of individuals availing of mortgage interest relief (MIR) in the years 2012, 2013 and 2014 is as shown in the following table.
| Year | Number of individuals availing (estimated) |
|---|---|
| 2012 | 508,200 |
| 2013 | 492,700 |
| 2014* | 495,000 |
The cost of relief for 2015 will depend on a variety of factors, including the numbers of mortgages, the monetary amount of the qualifying loans taken out, the rate of relief applying to those qualifying loans, the year the qualifying loans were taken out and the extent to which the ceilings for relief are impacted by changes in interest rates. Accordingly it is not possible to provide an accurate estimate of the expected cost of the relief in 2015.
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