Boost Ahead For Renters In The Budget

Renters in Ireland could receive significant financial relief under new Budget proposals from Fianna Fáil

The Irish independent reports plans to offer a total of €2,000 in tax credits over the next two years.

The initiative, led by Finance Minister Jack Chambers and Housing Minister Darragh O’Brien, aims to alleviate the burden of rising rents.

Currently, renters can claim a tax credit of €750 for 2024, but under the new plan, an additional €250 will be added, bringing the total to €1,000 for the year.

Jointly assessed couples would benefit from an extra €500, allowing them to claim up to €2,000.

Looking ahead to 2025, the renters’ tax credit would increase again, reaching €1,000 per person, for a combined total of €2,000 over two years.

The government hopes these measures will provide sustained financial support to tenants amid Ireland's ongoing housing challenges.

The proposal includes two €250 credits: one to boost the 2024 tax credit, and another rolling over into 2025.

These changes are expected to be confirmed in the upcoming Budget on October 1.

If passed, renters could see both immediate and long-term relief, with couples particularly standing to gain as much as €2,000 in credits for 2024 alone.