Anyone paying rent on private rental accommodation is entitled to claim the €500 rent tax credit this month, that was introduced in Budget 2023, including parents who are paying rent for a son or daughter in college.
The credit is for 2022 so when a renter claims it, it will result in a refund of €500 going straight into their bank account. Married couples will be refunded €1,000.
The credit is per tenant, not per property so for people sharing accommodation, each individual is entitled to the tax relief.
Marian Ryan, Consumer Tax Manager with Taxback.com outlined the information a tenant needs to apply for the refund.
"You need the address where you are living, the name and address of the landlord, their PPS number and confirmation that they are registered with the RTB. It's straight forward, it's usually all the information that is on the tenancy agreement."
If a landlord is not registered with the RTB, the tenant is eligible for the tax relief.
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"If it's an official tenancy then your landlord should be registered, but if it's the case that you're renting a room in somebody's house, they're not necessarily going to be registered with the RTB so you can claim it once it's in the Rent-a-Room scheme."
She said most landlords are registered with the RTB so it should not be an issue for people.
Ms Ryan said this is high season for people to get their tax refunds. People can claim for medical expenses like doctor visits and prescription fees. "You can get 20% back on those costs for the year."
"If you're working from home, there is a tax relief in relation to the cost of your electricity bills, your heating. You can get 30% back on that as a deductible expense."
She said it is really important every January to file your tax return and claim back your refunds; "It's your money so you may as well go get it."