Rent tax credit
Do you currently rent your home? With property rentals going up nationwide its welcome news to learn there is a rent tax credit available, but only for 2017. The clock is well and truly ticking on this tax credit however as it will be discontinued in 2017 and the criteria for qualification is specific.
Applicants need to have been renting accommodation on the 7th of December 2010 in order to qualify for this tax credit. They are not required to be at the same address from that time but if they were renting a shorter period they would not qualify.
The rent tax credit can be claimed for the past four years so 2013 and 2014 can be claimed at 20% for a single person under 55 up to €800 and €1600 for a married couple. For those over 55 the credit was 20% up to €1600 and €3200 for a married couple. The relief is reduced for 2015 and 2016 returns to €600 for single persons under 55 and €1200 for those over 55. So for a couple under 55 they can potentially claim €320 for 2013 & 2014 and a further €240 for 2015 and 2016, A grant total of €1120.
Visit our website contact page www.taxpro.ie/contact to submit an inquiry and we will be in-touch. And remember, No return = no fee with Taxpro.ie