Student accommodation tax relief
Deputy Catherine Martin asked how many former section 50 student accommodation properties had been converted to private rental after the ten-year period ended. The Housing Minister said taxation data were not held by his Department and argued that student accommodation delivery was ahead of target, though local opposition was slowing projects.
There are a number of commitments in A Programme for a Partnership Government regarding student accommodation. Yesterday, I received a reply to a parliamentary question I asked the Minister for Housing, Planning and Local Government regarding properties availing of tax relief under section 50 of the Finance Act 1999 to provide student accommodation. I asked the Minister how many of the properties which have reached the end of the ten-year stipulation included in the Act have now been converted from student accommodation to private rental accommodation. Although I submitted this question to the Minister for Housing, Planning and Local Government, I received a reply from the Minister for Finance but it does not answer my question. Therefore, I am seeking some clarity on this issue. While I appreciate tax returns will not show the conversion of student accommodation to private rental accommodation once the tax relief has ended, this is an issue the Minister for Housing, Planning and Local Government should not only be aware of but he should be actively seeking this information as it relates directly to the supply of student accommodation across the country.
Given the crisis in affordability and supply of student accommodation, does the Minister have any information regarding the number of properties in respect of which this relief has been sought after they have been converted and, if not, does he intend to seek this information?
Comment on this
I thank the Deputy for her question. Issues concerning taxation are not compiled by my Department. We have a very ambitious plan for increasing student accommodation, which is well ahead of its targets. It is being rolled out by my Department and the Department of Education and Skills. The difficulty we have with student accommodation is local politicians and local communities objecting to it being built in their localities. We need student accommodation in many parts of the country. That will alleviate problems in other parts of the housing sector and free up rental properties for people who are working in our cities.
Comment on this
The Minister has not answered my question.