Dáil
‹ Ceisteanna—Questions . Oral Answers . - Mortgage Interest Rates . Mortgage interest tax relief limit
Summary
Mitchell asked Barrett to seek a higher income-tax relief limit for mortgage interest, noting house prices and annual interest costs exceeded the existing cap. Barrett said the matter was for the Finance Minister.
: In view of the inflation rate obtaining, might I point out to the Minister that most ordinary houses are now costing over £20,000 and that the interest payable annually is over £2,000, which is the maximum which the Minister for Finance allows one to claim against income tax. Will he make representations to his colleague, the Minister for Finance, to increase the interest limit for claims against income tax in respect of mortgage repayments?
