Tax back on home repairs?

H

hayser

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I recently heard that tax payers are entitled to tax / money back on loans from credit unions if the loan was for a loan for house repairs. I was wondering can anyone tell me where to download the form to apply for this? I was on the Revenue website and couldn't find any details on it. Thanks in advance:)
 
Get a letter from the credit union stating that loan was for home improvements and a statement of interest paid for each year that you are claiming for. Then send these into your tax office. If you are already claiming the maximum interest relief on your mortgage there will be no tax refund due though.
 
Thanks Ironman. I finished paying my mortage a few years ago though so would I still be eligible for tax relief?
 
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A qualifying loan for the purpose of TRS is a secured loan, used to purchase, repair, develop or improve your sole or main residence, situated in the State.



I'd give the TRS helpline a ring on 1890 46 36 26.
 
You can claim for all home improvements , like extensions , driveways , painting and decorating , plumbing , landscaping etc etc etc .

The leaflet is IT60 . Its not easy to find , even on the revenue website . - and I have it in pdf form and can email to you if you want to pm your email address .

You do not need to keep receipts for work done , and it is based solely on interest paid and your qualification for same .
 
Thanks Allthedoyles. You're right, I couldn't find it anywhere on the Revenue site. I just sent you a PM with my email address. Would I be right in saying then that even if I didn't borrow money from the credit union to pay for my driveway I could still claim that? Sorry for all the questions but I'm totally new to this tax claiming business :)

Just managed to find the form. From reading it though, it seems as though I could only claim it if I still had a mortage. Does anyone know if this is right?
 
ironman said:
Get a letter from the credit union stating that loan was for home improvements and a statement of interest paid for each year that you are claiming for. Then send these into your tax office. If you are already claiming the maximum interest relief on your mortgage there will be no tax refund due though.
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No you dont have to have a mortgage . As ironman said above , its only if you are already at max relief , - then you don't qualify.
 
hayser said:
Thanks Allthedoyles. You're right, I couldn't find it anywhere on the Revenue site. I just sent you a PM with my email address. Would I be right in saying then that even if I didn't borrow money from the credit union to pay for my driveway I could still claim that? Sorry for all the questions but I'm totally new to this tax claiming business :)

Just managed to find the form. From reading it though, it seems as though I could only claim it if I still had a mortage. Does anyone know if this is right?
Click to expand...
You can only claim tax relief on the INTEREST paid on a home improvement loan. It doesn't have to be a credit union loan it can be a bank loan also. If you haven't taken out a loan at all and you paid for your driveway with savings there would be no tax relief. If you have no mortgage you can still claim on the interest paid.
 
allthedoyles said:
You can claim for all home improvements , like extensions , driveways , painting and decorating , plumbing , landscaping etc etc etc .

The leaflet is IT60 . Its not easy to find , even on the revenue website . - and I have it in pdf form and can email to you if you want to pm your email address .

You do not need to keep receipts for work done , and it is based solely on interest paid and your qualification for same .
Click to expand...
You would need to keep receipts, just don't send them in with your claim but keep them safe as revenue can audit you and look for them at a later stage
 
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