A Rent Tax Credit has been introduced for the years 2022-2025, offering eligible individuals substantial relief. If you rented private accommodation in 2022 or currently rent in 2023, you qualify to claim this tax benefit.
The new rent tax credit amounts to €500 annually starting in 2023, increasing to €750 in 2024 for single individuals. For married couples, the credit begins at €1,000 in 2023 and rises to €1,500 in 2024.
Moreover, parents who pay rent for university-going children can claim a credit of up to €500 per parent, meaning a total tax credit of €1,000 per year.
This tax credit can also be claimed by individuals renting private accommodation for work-related purposes. For instance, someone living and renting in Dublin for employment while originally from Donegal would qualify.
