Renters tax credit must be increased in Budget says McAuliffe

Fianna Fáil TD for Dublin North West Paul McAuliffe, has called for the Rent Tax Credit to be increased in Budget 2025.

 He said, “Fianna Fáil in Government is acutely aware of the ongoing challenges faced by renters.  We understand that people are struggling with high rents, and that’s why the Rent Tax Credit was introduced in Budget 2023 as a means of targeting assistance.”

 The credit, which was initially set at €500, was further enhanced in Budget 2024, increasing to €750.

 McAuliffe said this initiative has been a “crucial” support for renters.

 “Since its inception two years ago, this tax credit has provided significant assistance to renters, alleviating some of the financial burden associated with high rental costs,” he said.

 “Fianna Fáil is fully committed to supporting renters during these challenging times. We recognise the financial strain that high rents place on individuals and families and are focused on implementing measures that provide tangible relief and stability. An increase in the Rent Tax Credit would be a significant step towards alleviating the financial burdens faced by renters and ensuring they have the support they need in the face of rising rental costs.”