Pearse Doherty (Donegal, Sinn Fein)
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311. To ask the Minister for Finance the estimated cost to the Exchequer of capital allowances on the cost of furniture and fittings in rental residential property; and if he will make a statement on the matter. [57151/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that capital allowances in the form of wear and tear allowances are available in respect of capital expenditure incurred on fixtures and fittings (for example, furniture, kitchen appliances, etc) provided by a lessor for the purposes of furnishing rented residential property. These wear and tear allowances are allowed at a rate of 12.5% of the capital expenditure on the fixture and fittings over a period of eight years.

I am further advised by Revenue that wear and tear allowances for fixture and fittings are not separately categorised by residential or commercial properties on the Form 11 or CT1 tax returns and therefore it is not possible to provide the information requested in relation to residential properties.

Details on capital allowances available in respect of expenditure on fixture and fittings in rented residential property are available on the Revenue website at:

www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-04/04-08-12.pdf.