Home Renovation Incentive Scheme HRIS

It's still not clear if the credit can be doubled for a married couple who jointly own a property and spend up to €60,000.
 
callybags said:
It's still not clear if the credit can be doubled for a married couple who jointly own a property and spend up to €60,000.
Click to expand...

This seems to be pretty clear in the revenue statement:

"[...] repair, renovation or improvement work to a principal private residence"

"The tax credit is only available to the owner occupier."

So even if there are multiple owner-occupiers, the qualifying expenditure is linked to the specific PPR.

"[...] the maximum tax credit (see below) is linked to qualifying expenditure on work costing €30,000 excluding VAT."
 
Yes, but two people can have the same PPR, jointly owned.

They would both equally qualify for the credit?

Which one gets it?

Bear in mind the tax credit applies to a person, not the property.
 
Following on from above, if the credit is only available once, how would the scenario below work?

A couple with a joint bank account spend €9,900 on renovations to their jointly owned PPR.

Revenue come back and say "Sorry, no-one has spent the required €5,000 to qualify for the tax relief".
 
Word on the street (well the RTE news! ) is that the scheme will commence from Friday. Apparently a lot of people who were ready to go with work were putting of starting until the New Year.
 
[broken link removed], and clarifies the situation reg. 2 or more owners:
 
You must log in or register to reply here.
Menu
Log in
Register