DUBLIN: Housing Minister Darragh O’Brien has reaffirmed the prospect of the Personal Rent Tax Credit being adjusted to approximately €760 in the forthcoming budget.
Addressing a public gathering in Adamstown, Housing Minister Darragh O’Brien indicated that ongoing discussions were exploring the expansion of this credit for renters, with plans to extend it into the next fiscal year. Currently, the rent tax credit stands at €500 for individuals and up to €1,000 annually for couples.
The minister made these remarks during the official unveiling of ‘The Crossing,’ a substantial 5,000-unit residential development currently under construction by the property company Quintain in Adamstown, Dublin.
He also mentioned that the imposition of additional taxes on vacant properties was not ruled out, signalling a proactive approach to addressing housing challenges.
The minister conveyed that the Housing for All plan’s efforts to locate and provide homes for a greater number of individuals were making notable progress and moving in a positive direction. O’Brien put forth a budget proposal within his department, suggesting an extension of the Help to Buy scheme for first-time buyers for an additional two years and the consideration of augmenting the current tax-back cap of €30,000.
Furthermore, he advocated for addressing the housing crisis by empowering individuals to construct their own residences through the First Home Share Equity Scheme. This strategic approach holds the potential to significantly alleviate housing challenges. For more details on this initiative, you can visit https://www.firsthomescheme.ie/faqs/redeeming-your-equity-share/.
Additionally, the minister hinted at the forthcoming extension of the Tenant in Situ scheme into the following year. This scheme enables local councils to purchase properties while allowing current occupants to remain in their homes, eliminating the need for eviction.
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