Several amendments to Finance Bill expected

Tuesday 19 November 2013 18.27
Michael Noonan outlined the Budget on 15 October
Michael Noonan outlined the Budget on 15 October

Minister for Finance Michael Noonan has indicated that there will be a number of amendments to the Finance Bill, which is due to be debated in the Dáil this week.

The bill gives effect to the Budget provisions outlined by the minister on 15 October.

Mr Noonan said among the amendments are changes to the provisions on tax relief for home renovations.

Tax relief will now apply to house renovation jobs starting at a cost of €5,000, including VAT.

In the Budget, the tax credit applied to renovations starting at €5,000 was exclusive of VAT.

Mr Noonan said this would mean that lower-cost extensions, renovations or repair upgrades to homes will now qualify.

The tax credit of 13.5% applies to jobs costing up to €30,000.

The tax relief is capped at €4,050, to be paid on suitably qualified extensions or renovations completed before the end of December 2015.

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