69. Deputy Lucinda Creighton asked the Minister for Finance the tax reliefs relating to property, the number of persons availing of each relief and the total cost to the Exchequer of each relief in the most recent tax year. [44467/15]

I am advised by the Revenue Commissioners that within the tax code there are a significant range of tax reliefs associated with property. All reliefs, including property related reliefs, are a cost to the Exchequer. I propose to provide an analysis of the property reliefs under each Tax and Duty heading. Unless otherwise stated the figures relate to the year 2013.

Income Tax/Corporation Tax Reliefs

The following table is a list of the property based incentive schemes qualifying for capital allowances. It should be noted some of these figures are provisional. While the majority of these schemes have been terminated (capital allowances have been retained for expenditure on hotels, holiday camps, holiday hostels, guest house and registered caravan and camping sites at a rate of 4% per annum over 25 years), tax relief may continue to be claimed on expenditure incurred prior to the termination date in question.

* indicates that the number of claimants is low (usually less than 10) and cannot be provided to protect taxpayer confidentiality.

As statistics were not captured separately for Third Level Educational Buildings and the Countrywide Refurbishment Scheme (both now terminated) these have not been included. Also not included are the ordinary industrial buildings (e.g., mill/factory and airport runways/buildings) as statistics are not captured separately for these either.

The Living City Initiative and incentives for certain Aviation Services Facilities were commenced in 2015. The earliest point at which statistics for the number of persons availing of these reliefs and the total cost to the Exchequer may become available is when tax returns for 2015 have been filed.

Home Renovation Incentive (HRI)

This scheme provides a tax relief by way of an income tax credit on repair, renovation or improvement works on principal private residences or rental property carried out by tax compliant contractors. In addition to providing an income tax relief, the HRI also aims to support tax compliance in the building industry by moving activity out of the shadow economy into the legitimate economy.

The year 2014 was the first full year in which the incentive operated. The incentive came into operation on 25 October 2013 and will run until 31 December 2016. Rental properties were brought within the scheme from 15 October 2014.

Since the introduction of the incentive, works on 31,719 properties have been notified to Revenue's HRI online system (as of 30 November 2015). This represents more than €695 million worth of works involving some 6,705 contractors. The potential total cost to the Exchequer in respect of these properties is approximately €47m. As a claim for the HRI credit can only be made in the year after works have been paid for, there was no cost to the Exchequer in 2014 (works paid for in the period from 25 October 2013 to 31 December 2013 were deemed to have been paid for in 2014).

Additional Income Tax Reliefs

Other property based reliefs include interest relief on loans to acquire a principal private residence (PPR) (terminated for any new cases after 31 December 2012 interest relief for PPRs purchased between 2004 and 2012 will continue until end 2017), relief for rental payments on private tenancies (terminated for any new cases after 7 December 2010 - Individuals who were in receipt of the relief at 7 December 2010 may continue to claim it until 2017) the rent-a-room relief and relief for expenditure on significant buildings or gardens. The cost of the reliefs and the number claiming the relief are set out on the following table:

Capital Gains Tax Reliefs

For the purpose of capital gains tax there are three significant property based reliefs, the property purchase incentive, the Principal Private Residence relief and the farm restructuring relief.

The property purchase incentive relief was introduced in the Finance Act 2012. The relief applies to properties purchased between 7 December 2011 and 31 December 2014. For the relief to apply, the property must be owned for a period of at least 7 years. The rationale for the relief was to encourage investment in Irish property at a time when the property market was at a low ebb.

The Principal Private Residence Relief is available for individuals disposing of a house which was occupied by them as their only or main residence. The rationale for the relief is to ensure that the sale of a house, which will generally be replaced with another house, can be done on a tax-neutral basis.

Farm restructuring relief was introduced in the Finance Act 2013. The rationale for the relief is to facilitate the consolidation of land holdings, thereby increasing the productivity of those land holdings.

There is no statistical information available to the numbers availing of the Principal Private Residence relief and the farm restructuring relief or their cost to the Exchequer. The property purchase incentive had no cost to the Exchequer in the past full year since the entitlement to avail of the relief will not arise until a future point in time.

Capital Acquisitions Tax

The property based reliefs available for the purposes of capital acquisitions tax are set out on the following table. Costs and numbers availing relate to 2014.

N/A indicates that the figures are not available.

Valued Added Tax

The VAT Consolidation Act 2010 provides for the making of Orders whereby VAT that has been paid may be refunded in certain circumstances. Three Refund Orders provide for the possibility of recovering VAT associated with property.

- VAT Refund Order (No. 15) of 1981 allows for certain construction costs incurred in the adaptation of a house for certain qualifying disabled persons. The Order does not allow for the initial construction cost of a house.

- Refund Order (No. 29) of 1996 allows for VAT refunds/remission for qualifying accredited diplomatic personnel who purchase property for use as embassies/consulates and also for use as their principal private residences.

- SI 201 of 2012 provides for refunds of VAT for farmers on the construction, extension, alteration or reconstruction of farm buildings which are used solely or mainly in the farming business.

Each of the Refund Orders provides for relief for a number of areas of expenditure, including the property costs, so it is not possible to provide the cost to the Exchequer that relates solely to the property costs.

Local Property Tax

In relation to LPT the following table sets out the exemptions and reliefs available.

In relation to the LPT exemptions, I am advised by the Revenue Commissioners that the cost to the Exchequer for 2014, the most recent year available, is estimated to be €12 million in total. Exemptions have been claimed for around 41,000 properties. LPT deferrals have resulted in delayed LPT receipts estimated at €7 million in 2014. Claims for deferral have been made in respect of around 27,000 properties for 2014. I am further advised that costs for individual exemptions or deferrals are not available at this time.

Stamp Duty

Finally, the following table sets out the relief or exemption from stamp duty for transactions associated with property. Costs and numbers refer to 2014 data.

Stamp Duties Consolidation Act 1999 Exemptions and reliefs from stamp duty:

N/A indicates that the figures are not available.

* indicates that the number of claimants is low (usually less than 10) and cannot be provided to protect taxpayer confidentiality.