Skip to main content

Renters relief welcome and must be monitored closely as the housing market continues to struggle

Budget 2023

Commenting on the measures announced, Shane Wallace, Tax Partner, Deloitte said:

Prior year Budgets have faced criticism for failure to provide assistance to renters. With the cost of rent continuing to rise, the introduction of a renters tax credit is a step in the right direction in assisting renters with the rising cost of living.
Taxpayers were previously enabled to claim a tax credit on payments for private rented accommodation up to 31 December 2017. This included rent paid for flats, apartments or houses and was subject to specified limits. The €1,000 package announced today will see renters benefiting from a €500 tax relief this year and another next year and will bring some welcome relief to those in rental properties. It will be imperative that this relief be monitored closely as the housing market continues to struggle.