What Is The Mortgage Interest Tax Credit?
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?
YES:
The relief is ONLY available to:
- Homeowners with an outstanding mortgage balance between €80,000 and €500,000 as of 31 December 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% 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 31 December 2022.
- The LPT Property ID.
