Home renovation tax incentive scheme will benefit both homeowners and tradesmen

Damian Moran

Reporter:

Damian Moran

Fine Gael Offaly TD for, Marcella Corcoran Kennedy, has today (Tuesday) welcomed the announcement by Minister for Finance, Michael Noonan TD, that a home renovation tax incentive scheme is being introduced to help families renovate their homes.

Fine Gael Offaly TD for, Marcella Corcoran Kennedy, has today (Tuesday) welcomed the announcement by Minister for Finance, Michael Noonan TD, that a home renovation tax incentive scheme is being introduced to help families renovate their homes.

“I am delighted that Minister Noonan is giving people their VAT back on home improvements. This will be a great boost to families who wish to expand and improve their homes and will act as a significant boost to tradesmen and people in the construction industry.

“The home renovation tax incentive scheme will mean that people will get their VAT of 13.5% back on extentions and renovations to their homes. The VAT will be returned on amounts over €5,000 and under €30,000. This will enable people to make improvements to their family homes and generate employment for people in the hard hit construction sector.

“In order to avail of this scheme, people must use a tax compliant and VAT registered contractor. This is good news for tradesmen and sub-contractors who are trying to compete with black market operators.

“Under Fianna Fáil, 250,000 jobs were lost in the private sector. Tens of thousands of these jobs were in the construction sector which Fianna Fáil had inflated to unsustainable levels and which collapsed like a house of cards. People in the construction sector and their families have suffered greatly as a result.

“This measure is about growing the construction sector sustainably and helping families to improve their homes. It will give work and income to many sub-contractors and tradesmen who were left destitute by Fianna Fáil. We need a healthy construction sector and this scheme will help revitalise the industry in a sustainable manner and help get people back to work.”