Written answers

Wednesday, 23 October 2024

Photo of Jim O'CallaghanJim O'Callaghan (Dublin Bay South, Fianna Fail)
Link to this: Individually | In context

74. To ask the Minister for Finance further to Parliamentary Question No. 369 of 9 September 2024, if he could supply updated figures with regard to same. [43575/24]

Photo of Jack ChambersJack Chambers (Dublin West, Fianna Fail)
Link to this: Individually | In context

The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025.

I am informed by Revenue that 273,160 taxpayer units benefited from the RTC for 2022, as set out in Revenue’s ‘Cost of Tax Expenditures’ publication which is available on the Revenue website, at www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/cost/index.aspx. 313,980 taxpayer units claimed the RTC for 2022.

The extent to which a claimant benefits from a tax credit, through a reduced tax liability and/or receipt of a refund for overpayment of a tax liability, is determined by their gross tax liability and use of other tax credits and reliefs. These numbers include both PAYE and self-assessed taxpayer units. A taxpayer unit is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment, in which case they are counted as one taxpayer unit.

The table below provides a breakdown of the number of taxpayer units who benefited from the credit in 2022.

County 2022
CARLOW 2,310
CAVAN 2,220
CLARE 3,490
CORK 30,660
DONEGAL 3,290
DUBLIN 128,550
GALWAY 18,140
KERRY 4,220
KILDARE 10,090
KILKENNY 3,030
LAOIS 2,250
LEITRIM 890
LIMERICK 11,810
LONGFORD 1,520
LOUTH 3,650
MAYO 3,900
MEATH 5,430
MONAGHAN 1,890
OFFALY 2,200
ROSCOMMON 1,690
SLIGO 2,990
TIPPERARY 4,810
WATERFORD 4,890
WESTMEATH 3,790
WEXFORD 4,280
WICKLOW 3,800
Not available 7,380
Total 273,160

In relation to later years, the table below refers to claims by PAYE taxpayers for 2023 and 2024, to-date. The data on claims by self-assessed taxpayers are not yet available for 2023 and 2024. Most claims for credits by PAYE taxpayers take place after the year-end, and it is expected that the bulk of claims for 2024 will not be made until 2025.

The table sets out the number of claims by PAYE taxpayers by year of assessment and by county for 2023 and 2024 to 21 October.

County 2023* 2024*
CARLOW 2,430 600
CAVAN 2,480 600
CLARE 3,530 990
CORK 29,900 8,290
DONEGAL 3,470 960
DUBLIN 130,110 37,760
GALWAY 18,070 5,330
KERRY 4,210 1,020
KILDARE 10,140 2,840
KILKENNY 3,050 800
LAOIS 2,120 640
LEITRIM 860 240
LIMERICK 12,280 3,480
LONGFORD 1,660 370
LOUTH 3,970 1,050
MAYO 4,050 1,110
MEATH 5,760 1,420
MONAGHAN 2,070 480
OFFALY 2,350 610
ROSCOMMON 1,820 510
SLIGO 2,970 820
TIPPERARY 5,010 1,270
WATERFORD 5,180 1,470
WESTMEATH 4,070 1,140
WEXFORD 4,350 1,170
WICKLOW 3,550 1,040
Not Currently Available 3,250 710
Total 272,700 76,710**
*Note: figures have been rounded to the nearest 10.

** In the case of 2024 claims, it is the case that most taxpayers claim the relief after the end of the tax year rather than in-year.

Comments

No comments

Log in or join to post a public comment.