Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

109. To ask the Minister for Finance the number of applications made to the Revenue Commissioners for the rent tax credit to date; the number of applications that have been approved; the number that have been rejected; and if he will make a statement on the matter. [5876/23]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by Finance Act 2022 and is available in respect of qualifying payments made during the 2022 to 2025 years of assessment inclusive.

I am advised by Revenue that up to 03 February 2023, 125,724 claims for the Rent Tax Credit have been made in respect of the 2022 year of assessment. These claims refer to PAYE taxpayers, who submitted an Income Tax return for the 2022 year of assessment through Revenue’s online facility myAccount. Revenue has published statistics on Rent Tax Credit claims which is available on Revenue’s website at: www.revenue.ie/en/corporate/documents/statistics/registrations/paye-returns-rent-credit-2022.pdf

It is anticipated that from mid-February 2023, PAYE taxpayers will be able to claim the Rent Tax Credit due to them in relation to the 2023 year of assessment either, in “real time” via myAccount or if preferred, after the end of the year in their Income Tax return for 2023.

Data on claims by self-assessed taxpayers is not yet available as these taxpayers’ returns are generally submitted later in the year. The statutory filing date for the 2022 tax return for self-assessed taxpayers is 31 October 2023.

As with any tax credit or relief, including the Rent Tax Credit, Revenue has mechanisms in place to verify and ensure the accuracy of claims within the application process.  

I am advised by Revenue that in instances where conditions are not met, and therefore there is no entitlement to the credit, the claimant will not be able to proceed with their application.  The number of such instances is not known.

Further information on the Rent Tax Credit is available on Revenue’s website at: www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land-and-property/rent-credit/index.aspx.