Catherine Connolly (Galway West, Independent)
Link to this: Individually | In context | Oireachtas source

143. To ask the Minister for Finance the status of the promised review of the help-to-buy scheme; the person or body that will carry out the review; the terms of reference of the review; the timeline for the review; and if he will make a statement on the matter. [54377/21]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the definitions and conditions that apply to the HTB scheme.

As the Deputy will be aware, in my recent Budget speech, I indicated that Finance Bill 2021 would include a provision extending the Help to Buy scheme for one further year to the end of 2022 and that the scheme will be formally reviewed in the course of 2022. The intention is that the review will be fundamental in nature and that it will inform decisions for Budget 2023 and Finance Bill 2022.

Questions related to who will carry out the review, its terms of reference and a timeline for completion will be determined shortly.