Pearse Doherty (Donegal, Sinn Fein)
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178. To ask the Minister for Finance the estimated cost of the help to buy scheme for 2023; if all or a portion of that cost is within the base for 2023; and to outline that cost. [32482/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the definitions and conditions that apply to the scheme. 

HTB is a demand-led tax expenditure which is subject to a broad range of variables, including housing completion rates and prices. The estimated cost of HTB is therefore dependent on the nature and extent of the scheme in 2023, about which decisions have yet to be taken.

At present, HTB is subject to a sunset clause with an associated date of 31 December 2022. Accordingly, there is no provision in the current budgetary arithmetic in respect of the cost of the measure beyond end-December 2022.

The nature and extent of the scheme going forward will be informed by the findings of the review of HTB which is currently being undertaking by Mazars. The future of the scheme beyond its current sunset date is a matter that will fall to be considered by Government in the context of the forthcoming Budget and Finance Bill process.  It would be premature at this point to anticipate the outcome of those deliberations.