Barry Cowen (Laois-Offaly, Fianna Fail)
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80. To ask the Minister for Finance if he will provide a breakdown of the estimated loss to the Exchequer of mortgage interest tax relief on rental income in 2014. [18857/15]

Barry Cowen (Laois-Offaly, Fianna Fail)
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81. To ask the Minister for Finance if he will provide a breakdown of the estimated cost to the Exchequer of an increase of mortgage interest relief to 100% of rental income. [18858/15]

Barry Cowen (Laois-Offaly, Fianna Fail)
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82. To ask the Minister for Finance the total tax intake on rental income in the years 2010 to 2014. [18859/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 80 to 82, inclusive, together.

In relation to Question 18857/15, I am informed by the Revenue Commissioners that landlords may deduct interest on money borrowed to purchase, improve or repair residential property from the gross rent when computing their rental profits for tax purposes on that property. Interest can only be deducted during the period in which the property is let and the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest.Information on interest relief for rental property is based on all claims for such relief in tax returns: Form 11 or Form 12 for individual taxpayers. Interest relief associated with corporate landlords is not captured on the relevant corporation tax CT1 return and is therefore not available.Based on personal income tax returns filed for 2010 to 2012, the latest year available, the estimated amount of tax foregone by allowing a deduction for interest on borrowings to be offset against rental income is as shown in the following table. This includes the cost for both residential and commercial properties.

These estimates are based on assuming that tax relief was allowed at the top income tax rate of 41% (the applicable rate in the years in question) and the figures provided could, therefore, be regarded as the maximum Exchequer cost in respect of those taxpayers.

In respect of Question 18858/15, it is assumed the Deputy is proposing to increase the 75% limit to 100%. In that regard, the Deputy should be aware that the estimated full year saving arising from the restriction of the interest deduction to 75% when introduced in the April 2009 supplementary budget, was put at €95 million. It is likely, therefore, that the cost of restoration of the deduction to 100%, would be of the same broad order of magnitude.

In relation to Question 18859/15, I am informed by the Revenue Commissioners that the amount of gross domestic rental income declared on income tax returns was €4.3bn for 2010, €4.1bn for 2011 and €4.0bn for 2012 (returns for tax years 2013 or 2014 are not yet available). The rental income declared in respect of corporation tax was €548m for 2010, €520m for 2011 and €526m for 2012. However, as rental income is aggregated with all other incomes for the purposes of tax assessment calculation, it is not possible to specify the total tax intake on rental income alone.