Tax breaks for renters could be increased to around €760 in next month’s budget, under plans being negotiated by the government, reports RTE.
Housing Minister Darragh O’Brien said talks were underway to extend the loan to renters next year.
The current loan value is €500 for an individual or a maximum of €1,000 per year for a couple assessed jointly.
Speaking at the opening of a new housing development in Adamstown, Dublin today, the minister will not be immortalized in one painting.
However, RTÉ News understands that the minister has proposed a rate that reflects the average monthly rent, which is €760.
“I want it increased. It has been a real assistance to renters in reducing the actual cost. I have made it very clear I want to see it increased. I am not going to go into what level because we are in discussions at the moment in relation to the Budget preparations. Suffice to say I want to ensure that we are providing more assistance to renters out there, that we are helping first time buyers as well. I would also like to see the help to buy grant extended past the end of next year,” the Minister said, reports RTE.
The Minister was speaking at the official opening of ‘The Crossing’ – a 5,000-apartment development by developer Quintan in Adamstown, Dublin.
He also said that he did not rule out imposing higher taxes on vacant properties.
In response to a report in the Irish Times that there were over 12,000 empty buildings in Dublin, he said this figure still represented less than one per cent of the total housing stock.
“It is part of our Housing for All plan to tackle vacancy. We are making progress, it is going in the right direction but we can always do more. There will be focus on additional tax measures as well,” reports RTE.
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