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Darragh O’Brien has proposed raising the personal rent tax credit in Ireland to €800

Dublin: Housing Minister Darragh O’Brien has proposed to increase the personal rent tax credit in Ireland to 800 euros.

The Minister of Housing has asked that house owners should be given tax exemptions on the income they get from rent.

O’Brien proposed extending the Help to Buy scheme for first-time buyers by two years and increasing the existing tax-back cap of €30,000 in his department’s budget proposal.

He clarified that home buyers will be able to purchase used houses through the government’s share equity programme. Currently, only newly constructed houses are eligible for the share equity programme.

If the First Home Share Equity Scheme is also allowed to buy second-hand houses (https://www.firsthomescheme.ie/faqs/redeeming-your-equity-share/), then the crisis in the housing sector can be reduced significantly.

He also hinted that the Tenant in Situ scheme, which allows local councils to buy the same house if they are in a position to buy it, without evicting them from their homes, will also be extended next year.

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