RENT TAX CREDIT

Created on: February 15, 2024
Modified on: February 15, 2024

If you pay rent you may qualify for the Rent Tax Credit. To benefit from the Rent Tax Credit, you must have an Income Tax liability to offset against it. The Rent Tax Credit reduces the amount of Income Tax that you are due to pay for a tax year.

Rent means the amount you pay for use of the property. It does not include any amount you pay for extra services such as utilities, board or laundry. You should exclude any amount you pay for these services when calculating the rent you pay.

The amount of Rent Tax Credit you can claim will be calculated for you when you submit your claim. This amount will depend on the amount of:

  • rent you pay
  • Income Tax you pay.

 

Tax relief is granted at 20%. The maximum amount you can be refunded, from the Rent Tax Credit, is:

  • €1,000 for a jointly assessed couple
  • €500 for all other cases.

 

How to claim 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 should provide as much information about your rental arrangement as possible when making a claim. You will be asked for the RT number when you apply for the tax credit. The RTB has information on how to find the Registered Tenancy (RT) number.

You should take all reasonable steps to ensure that you provide as much information as possible, including your RT number, when making a claim for the rent tax credit. However, you will not be prevented from making a claim for the rent tax credit if you are unable to provide your RT number when making your claim and you have taken all reasonable steps to ascertain this number.

You should also retain all records related to your rental arrangement so that you can provide them to Revenue, if requested.

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.

 

Futher guidance