Are you eligible for rental tax credit in Ireland?
Rent Tax Credit:
A rental tax credit has been introduced for the years 2022-2025. If you rent out your private accommodation in 2022 or are currently renting out in 2023, you can claim this tax relief now. In this new tax credit, 500 euros in 2022 and 500 euros in 2023, etc., will be available as tax credits for each taxpayer. A couple paying tax jointly in 2022 will receive €1000 worth of rental tax credits and again €1000 in your tax credits in 2023.
Parents paying rent for university-going children can claim a tax credit of up to €500 per parent, which means a total tax credit of €1,000 per year. It can also be claimed by a working parent who is paying rent on behalf of their children in college. It is recommended that the parent claim this as most students work part-time and have not paid enough tax to claim the €500 credit. So, if the parent works full-time, they can claim the maximum amount against their tax credits.
- You may also be eligible to claim this tax credit if you rent private accommodation to provide accommodation while you work.
- In the case of tenancy for a qualifying child, the child or person cannot be a relative of the landlord.
- This newly introduced rent tax credit is only for private renters, not those receiving social housing support.
When making a claim, you may be asked for the following details to prove that you were actually renting in 2022.
- Address
- Total amount of rent paid
- The date you started renting
- Name of Landlord/Letting Agent
The property you rent must be registered with the Residential Tenancies Board (RTB) to claim rent tax credit. In some cases, tax credit applies to rent that does not need to be registered with RTB. This includes 'rent-a-room' or 'digs' type arrangements.
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