N Newbie! Registered User Messages 901 8 Feb 2012 #1 Hi, I'm a bit embarressed to admit I dont quite understand the new interest relief being applied to first time buyers who bought from 2004 to 2008. We bought in 2006 and have €327,000 remaining on our mortage and our current interest rate is 1.95% tracker. We are jointly assessed. Are these calculations correct? €327,000*1.95% = €6375.50*30%=€1912.95/12 =€159 PER MONTH. If this is right, do we recieve the 30% until 2017? thanks.
Hi, I'm a bit embarressed to admit I dont quite understand the new interest relief being applied to first time buyers who bought from 2004 to 2008. We bought in 2006 and have €327,000 remaining on our mortage and our current interest rate is 1.95% tracker. We are jointly assessed. Are these calculations correct? €327,000*1.95% = €6375.50*30%=€1912.95/12 =€159 PER MONTH. If this is right, do we recieve the 30% until 2017? thanks.
D dewdrop Registered User Messages 1,298 9 Feb 2012 #2 there is a very good chart/tables on the Revenue website which shows the rates, year, cap which might help. sorry i dont know how to highlight particular website.
there is a very good chart/tables on the Revenue website which shows the rates, year, cap which might help. sorry i dont know how to highlight particular website.
N Newbie! Registered User Messages 901 9 Feb 2012 #3 Is this it Dewdrop? http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html I'm still not sure if I am calculating the relief correctly though?
Is this it Dewdrop? http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html I'm still not sure if I am calculating the relief correctly though?