Richard Bruton (Dublin Bay North, Fine Gael)
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166. To ask the Minister for Finance if the full value of help to buy support combined with equity support, through either first homes or a local authority's affordable purchase, continues to be constrained by ceilings on permitted ratios to valuation; if he has considered easing this constraint; and if he will make a statement on the matter. [41976/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The operation of the Local Authority Affordable Purchase Scheme(LAAP) and the First Home Scheme (FHS) are, in the first instance, primarily a matter for Minister for Housing, Local Government and Heritage. In relation to their interaction with the Help To Buy (HTB) scheme, I can confirm that there have been no changes to the HTB scheme specifically addressing any related issues.

HTB, as legislated for by section 477C of the Taxes Consolidation Act 1997, only applies where a mortgage is taken out to purchase or build a home and where the value of the qualifying loan is a minimum of 70% of the ‘purchase value’ of a purchased new build or 70% of the approved valuation of a self-build.

The ‘purchase value’ of a purchased property is the price paid for the residence. In cases where the price paid is less than market value, the ‘purchase value’ will be the market value.The ‘purchase value’ of a property cannot be less than its market value for the purposes of this calculation.

In relation to the question of any potential amendments to HTB pertaining to LAAP or FHS, as the Deputy will appreciate, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any matters that might be the subject of Budget decisions.

Richard Bruton (Dublin Bay North, Fine Gael)
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167. To ask the Minister for Finance if he has considered extending the help to buy tax relief for affordable purchase beyond new homes; if he has plans to extend the availability of this scheme beyond 2024; and if he will make a statement on the matter. [41984/23]

Michael McGrath (Cork South Central, Fianna Fail)
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Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers 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 Section 477C of the Taxes Consolidation Act 1997.

An increase in the supply of new housing remains a central and priority aim of Government policy. For this reason, HTB is specifically designed to encourage an increase in demand for new build homes in order to support the construction of an additional supply of such properties. For a property to qualify for HTB, it must be new or converted for use as a dwelling, having not previously been used as a dwelling.

A move to include properties which were previously used as residential homes/second-hand properties within the scope of the scheme itselfwould not improve the effectiveness of the relief; on the contrary, it could serve to dilute the incentive effect of the measure in terms of encouraging additional supply. Extending the HTB scheme in this way would provide no incentive effectto encourage the building of new homes and would be likely to have a significant dead-weight element and a high Exchequer cost. For these reasons, there are no plans at present to extend the HTB schemeto include such properties.

Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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168. To ask the Minister for Finance if he will detail the tax reliefs or incentives that are currently in place with regard to the purchase, rental or renovation of property for residential use; the date of which each relief or incentive commenced; if any cost-benefit analysis or review of each relief or incentive has been conducted; and if he will make a statement on the matter. [41997/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The below table sets out current tax relief or incentives which can be claimed for the first time relating to the purchase, rental or renovation of property for residential use, the date of introduction, if a review was carried out, and details of the most recent such reviews.

*CGT Relief on certain disposals of land or buildings (s604A) only applied for properties acquired during the period 7 December 2011 to 31 December 2014 and then held for a period of seven years. Thereafter, tapered relief applies with relief to CGT granted in the same proportion as the seven years bears to the overall ownership period.

Decisions regarding tax incentives and reliefs, whether in respect of the introduction of new measures or the amendment of existing measures, are normally made in the context of the annual Budget and Finance Bill process. Such decisions must have regard to the sound management of the public finances and my Department's Tax Expenditure Guidelines. Tax reliefs, no matter how worthwhile in themselves, may serve to narrow the tax base and can make general reform of the tax system that much more difficult.

With that said, my Department continues to monitor all aspects of the property market, and I will continue to work with my colleagues in Government to ensure that any further interventions in the housing market are appropriately calibrated, represent the best use of scarce public resources and boost the supply of housing in both the public and private sectors.