Numerous renters in Laois are yet to claim their tax credit worth €750 per person, according to local Fine Gael TD, Charlie Flanagan.
Flanagan is urging renters to claim the credit, which was introduced by Fine Gael to help tenants with their monthly rent.
The Rent Tax Credit is available for the tax years 2022 to 2025 and reduces the amount of Income Tax that you are due to pay for a tax year.
However there are numerous qualifying conditions which must be met by claimants to receive the credit.
To avail of the relief your landlord must be registered with the Residential Tenancy Board (RTB).
You cannot claim the Rent Tax Credit even if you are required to make a ‘top-up’ payment in excess of a payment received from a State support scheme.
You also cannot claim the Rent Tax Credit if your landlord is a Housing Association or Approved Housing Body.
The Rent Tax Credit is not available for ‘rent-a-room’ or ‘digs’ type arrangements if you and the landlord are related and in cases where there is no relation the credit will have to be apportioned to the amount
Further information on eligibility and how to claim the tax credit is available on revenue.ie.
Deputy Flanagan said: “Under this scheme, individuals can claim €750, and couples can claim €1,500 when jointly assessed. This is a welcome step for many who may be trying to save to buy a home
“The increase in this credit from €500 to €750 in Budget 2024 was an excellent boost for renters across the constituency.
“The rent tax credit also applies to parents in Laois & Offaly who pay for their children’s student rental accommodation.
“The beginning of the college year is an expensive time for parents, so it’s really important they are aware of the supports available before students go back to college in September.
“The scheme also applies if a renter has an arrangement where the tenant shares with the owner or is in a rent-a-room or ‘digs’ arrangement.
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