Minister for Finance Jack Chambers has confirmed the Government is examining “a further permanent expansion” of the rent tax credit in Budget 2025 and how tenants can be supported “as part of the cost-of-living package” in the Budget.
There has been speculation that the rent tax credit would increase from its current level of €750 to €1,000 and that there could also be a credit of €250 this year which would be available to people in rented accommodation.
Tenants can apply for the credit, which reduces their income tax liability, through the Revenue Commissioners.
Mr Chambers also said it was “really important” there would be a further extension to the Help to Buy scheme.
He added there would be discussions with party leaders on the matter this week.
Mr Chambers was speaking to RTÉ News as he attended the Construction Industry Federation’s annual conference in Dublin.
On the issue of the lack of provision of serviced land for house building, Mr Chambers said that Uisce Éireann (Irish Water) would be supported in its efforts to “drive housing delivery” by funding which would come from the sale of a further tranche of shares in AIB bank.
It is understood the money would be used to capitalise Uisce Éireann.
In recent weeks the lack of sites with connections to water and electricity in the east and midlands of the country was highlighted in a report by Goodbody Stockbrokers.
