Thousand of people across Ireland who are eligible for the Government’s rent tax credit relief scheme have yet to apply for the cash boost.
Figures obtained by RTE News show that nine months after the cost of living boost was announced, many households have not applied.
To date, just 230,000 out of 400,000 eligible people have requested the support, which would equal a maximum sum of €1,000 owed so far.
A single person who is renting is eligible to receive €500 a year from Revenue, while a couple who are renting are eligible to receive €1,000.
Requests can currently be made for 2022 and 2023, but the scheme is currently planned to continue until 2025.
However, Marian Ryan, Director of Business Development with Taxback.com, claims that a lot of renters have come “up against a brick wall” when it comes to claiming the for credit.
“One of the criteria is that you have to be renting from a private landlord who is registered with the RTB (Residential Tenancies Board).”
Speaking on Morning Ireland, she said: “A huge number of people are fearful of having any conversation around that in case it triggers an increase in rent.”
“Or many landlords are simply not registered with the RTB and are not willing to do so and that means many people are missing out on the refund.”
Ms Ryan said eligible taxpayers should consider applying. “It’s a really valuable tax credit,” she said.
How to apply
For 2022 applicants:
You can claim the credit by completing your Income Tax Return in myAccount. To claim the credit and complete your Income Tax Return, please follow these steps:
- sign into myAccount
- click on ‘Review your Tax 2019-2022’ in the ‘PAYE Services’ section
- request a ‘Statement of Liability’ for 2022
- click on ‘Complete your Income Tax Return’
- in the ‘Tax Credits & Reliefs’ page select ‘You and your family’ and click on ‘Rent Tax Credit’
- work through the claim process
- submit the Income Tax Return.
For 2023, if you are a PAYE taxpayer, you are able to claim the credit in-year through myAccount, for rent paid in 2023.
You will need to:
- sign into myAccount
- go to the ‘PAYE Services’ section
- click ‘Manage Your Tax 2023’
- click ‘Add new credits’
- under the ‘You and Your family’ section, claim the Rent Tax Credit.
Alternatively, you can claim the credit for 2023 by completing your Income Tax Return for 2023 next year.
