Michael McGrath (Cork South Central, Fianna Fail)
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The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025.

For the tax years 2022 and 2023, the maximum value of the credit is €1,000 per year in the case of a jointly assessed couple, and €500 in all other cases. Finance Act 2023 increased the value of the credit for the 2024 and 2025 tax years to a maximum of €1,500 for a jointly assessed couple and €750 in all other cases.

I am advised by Revenue that the Rent Tax Credit statistics currently available refer only to claims by PAYE taxpayers. Data on claims by self-assessed taxpayers is not yet available. Statistics covering all taxpayers will be available in Q2 2024.

Claims in respect of the 2022 and 2023 years of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that year. For claims relating to 2023, PAYE taxpayers had the option of claiming the Rent Tax Credit due to them as rent is incurred through Revenue’s Online Service or at the end of the year through their Income Tax return. The same option is available for claims relating to 2024.

Rent Tax Credit claims are made are on a ‘taxpayer unit’ basis. A taxpayer unit is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment.

I am advised that as of 25 January 2024, 453,777 Rent Tax Credit claims have been made nationally by 310,891 taxpayer units for the years 2022, 2023 and to date in 2024.

Data for claims relating to PAYE taxpayers for Dublin are as follows:

• 122,109 claims for 2022,
• 78,051 claims for 2023,
• 14,449 claims for 2024.

This gives a total of 214,609 claims for all years to date for Dublin.