Did you know that in Ireland, renters can claim back a portion of the tax they pay on their rent? That’s right, the rent tax credit provision offers a welcome financial benefit to those who face the perpetually rising cost of renting. Here’s everything you need to know …
Renters: listen up! With the rising cost of living, and soaring rental costs in particular, we could all do with a bit of extra cash in our pockets, especially coming into summer with holidays, weddings, festivals and other special events on the horizon. What if we told you that you could get up to €500 cashback, to do with as you please? And it really couldn’t be easier…
A new tax relief programme from the government means you can claim back a percentage of the income tax you’ve paid on your rent throughout the year. Navigating the world of claiming rent tax credit can feel daunting, especially with unfamiliar terms and processes. However, that doesn’t have to be the case. If you look closely, you will easily cut through the process and have your claim completed and sent off within a matter of minutes.
For the 2024 tax year, you can generally claim back 20 per cent of your rent paid, with a maximum annual credit of €500. However, it’s always best to double-check the2. File Your Tax Return: When filing your tax return online through Revenue Online Services , you’ll find a section dedicated to claiming rental expenses.Carefully enter the rental income you paid during the year, along with your landlord’s details and the property’s PRTB registration number.Once Revenue processes your return, you’ll receive a notification of your tax refund, which will include the Rent Tax Credit amount if you qualify.Don’t wait until the last minute to file your tax return.