The Mortgage Interest Tax Credit is available for taxpayers who made payments on a qualifying loan for their principal private residence, their former or separated spouse’s primary residence, or their dependent relative’s primary residence.
Are there any restrictions as to who qualifies?
The relief is only available to:
· Homeowners with an outstanding mortgage balance between €80,000 and €500,000 as of December 31, 2022.
· Homeowners who paid more interest in 2023 and/or 2024 compared to 2022.
· Taxpayers who are compliant with Local Property Tax (LPT ) requirements.
The relief is capped at 20 per cent of the increase in interest paid, up to a maximum of €1,250 per property, and is available only for 2023 and 2024.
How do I claim?
To claim the Mortgage Interest Relief, you must submit the following documents on the Revenue website:
· Your certificate of mortgage interest for 2022.
· Your certificate of mortgage interest for 2023 or 2024 (depending on the tax year you are claiming for ).
· Confirmation of your mortgage balance as of December 31, 2022.
· The LPT Property ID.
