The Minister for Finance, Jack Chambers, has announced plans to expand the rent tax credit in Budget 2025 to support tenants as part of the cost-of-living package. Speculation suggests the credit may increase from €750 to €1,000, with an additional €250 credit available this year for those in rented accommodation.
Tenants can apply for the credit through the Revenue Commissioners to reduce their income tax liability. Chambers also emphasized the importance of extending the Help to Buy scheme, with discussions scheduled with party leaders.
Speaking at the Construction Industry Federation’s conference, Chambers addressed the lack of serviced land for house building, noting that funding from the sale of AIB bank shares would support Uisce Éireann in driving housing delivery. This decision follows a report by Goodbody Stockbrokers highlighting the shortage of sites with essential connections in the east and midlands.