Written answers

Wednesday, 19 March 2025

Photo of Pat GallagherPat Gallagher (Donegal, Fianna Fail)
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447. To ask the Minister for Finance if he has any plans to expand or amend the help-to-buy scheme to help more buyers; if he will consider certain changes (details supplied); and if he will make a statement on the matter. [12956/25]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as an aim the encouragement of additional supply of new houses by supporting demand.

The relief takes the form of a rebate of income tax, including DIRT, paid in the State over the previous four tax years.

The level of support available to first time buyers is the lesser of:

  • €30,000;
  • ten per cent of the purchase price of a new home/self-build property; or,
  • the amount of Income Tax and DIRT paid in the four years before application for the relief.
Based on the latest available data (30 November 2024), the HTB scheme has supported almost 52,000 individuals or couples to buy their own home.

The Programme for Government commits to the "retention and revision" of the HTB scheme. Any revisions to the scheme would have to be considered in advance of the annual Budget and Finance Bill processes, having regard to the Department of Finance Tax Expenditure Guidelines and the sound management of the public finances; and would take into account the effective operation of the scheme and the impact any proposed changes would have on the broader housing market.

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