James O'Connor (Cork East, Fianna Fail)
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163. To ask the Minister for Finance the steps that will be taken to ensure greater awareness of eligibility for the recently introduced rent tax credit; if he is satisfied the application process is accessible for people who are entitled to the credit; and if he will make a statement on the matter. [3080/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The rent tax credit was introduced by Finance Act 2022 and will be available in respect of qualifying payments made during the 2022 to 2025 years of assessment inclusive.

I am advised by Revenue that a comprehensive manual on the rent tax credit was published by Revenue in December 2022. This guidance sets out the full range of conditions which must be met in order for the credit to be claimed and includes a number of helpful examples. The guidance also contains step-by-step details on how to claim the credit for 2022, being the first year the credit is available. This information can be found in Tax and Duty Manual Part 15-01-11A at: www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-11A.pdf

Information on the rent tax credit is also prominently displayed on the homepage of the Revenue website under the heading ‘Popular Topics’ and the relevant link provides potential claimants with detailed information on how to claim the tax credit.

Revenue has engaged with the Residential Tenancy Board (RTB) and the Department of Housing, Local Government and Heritage to ensure that information on eligibility for the credit is widely available and understood.

I am further advised by Revenue that it issued a statement yesterday highlighting the end of year process for PAYE taxpayers and published a statistical report on 2022 PAYE Preliminary End of Year Statements and Income Tax returns which is available on the Revenue website and can be accessed at:

- Statistical report: revenue.ie/en/corporate/information-about-revenue/statistics/number-of-taxpayers-and-returns/peoys.aspx;

- Press statement: www.revenue.ie/en/corporate/press-office/press-releases/index.aspx.

The statement highlights the changes introduced in Budget 2023 particularly in relation to the new rent tax credit and can also be viewed at the link below. To date in 2023, approximately 78,400 claims for rent tax credit for 2022 have been made.

On the basis of the Revenue advice that I have received, I am satisfied that the steps taken to-date are appropriate in terms of ensuring that adequate information on the eligibility criteria attached to the rent tax credit has been made available and that the claim process is accessible for all potential claimants.

The operation of the rent tax credit will continue to be monitored closely by my Department in conjunction with Revenue in the coming months.