Have you claimed yours yet???
This temporary measure was announced earlier this year and is a once-off opportunity to assist borrowers with increasing interest rates. Taxpayers can claim tax relief at the standard rate of income tax on the increase in interest paid in 2023 over the interest paid in 2022. The outstanding mortgage balance must be between €80,000 and €500,000 at the end of 2022.
It is important to note that the relief is capped at relief is capped at €1,250 per property. The amount paid will be equal to the lesser of 20% of the excess interest paid; or €1,250.
To claim this relief, you will need your Mortgage Interest Certificate for both 2023 and 2023 and a statement showing your mortgage balance at 31st December 2022. You then need to file a 2023 Income Tax Return via “myAccount” online.
Those who are in the self-assessed bracket can claim relief through ROS.
