What is the new rent tax credit?

A rent tax credit was recently re-introduced by Revenue, commencing in the 2022 tax year. If you are a tenant in an Irish property you can now claim a rent tax credit to a maximum value of €500. 

And if you are a jointly assessed couple (i.e. spouses or civil partners) you can each claim up to the €500 limit annually. So if you and your wife have been renting across two years this could potentially be worth €2,000 to you! 

It was announced in Budget 2024 that the Rent Tax Credit will increase from €500 to €750.

Please note in order to qualify for the credit the tenancy should be registered with the RTB (unless it is a digs type arrangement, or part of the Rent-a-Room scheme). 

You will not qualify for the rent tax credit if you are in receipt of rent allowance, or HAP payments. 

This credit needs to be formally claimed via ROS.

 

 

Date published 27 Apr 2023 | Last updated 11 Oct 2023

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.