Written answers
Tuesday, 21 May 2019
Department of Finance
Mortgage Interest Relief Data
Pearse Doherty (Donegal, Sinn Fein)
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156. To ask the Minister for Finance the budgetary impact of freezing the phasing out of mortgage interest relief; and if he will make a statement on the matter. [21606/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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It is assumed the Deputy is referring to mortgage interest relief for persons with a qualifying mortgage loan on a principal private residence. This relief is only available on a tapered basis for loans taken out between 2004 and 2012 and will end on 31 December 2020.
I am advised by Revenue that the estimated cost of the relief for 2019 and 2020 is €78m and €37m respectively.
The estimated maximum cost of maintaining the relief at the 2019 level in 2020 is approximately €41m and approximately €78m in 2021 and in subsequent years.
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