Written answers
Tuesday, 8 October 2024
Department of Finance
Tax Credits
Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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119. To ask the Minister for Finance to provide the first- and full-year cost of increasing the rent tax credit by €100 increments, in tabular form. [40260/24]
Jack Chambers (Dublin West, Fianna Fail)
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I am advised by Revenue that as the amount of rent tax credit available to a taxpayer is dependent on the rent paid, it is not possible to provide a precise estimate for each €100 increase in the value of the credit.
Revenue has provided the data in the table below setting out estimated additional costs associated with a range of potential increases in the value of the credit.
It should be noted that these costs are calculated on a post-Budget 2025 basis.
Proposed Credit Value in 2025 | Estimated Additional Cost €m |
---|---|
€1,100/€2,200 | 20 |
€1,200/€2,400 | 45 |
€1,300/€2,600 | 60 |
€1,400/€2,800 | 80 |
€1,500/€3,000 | 95 |
Note: figures are rounded to the nearest €5m.
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