Parents who pay for their children's rent can also apply
Anyone who pays rent on private rental accommodation is now entitled to claim €500 back in tax credit - some 400,000 renters are eligible to claim the money back for last year, including parents who are paying rent for a son or daughter in college.
The new tax relief was introduced this month as part of cost of living measures announced in Budget 2023. The credit is per tenant, not per property so for people sharing accommodation, each individual is entitled to the tax relief. All private renters will be able to claim the €500 tax back for the years 2022 until 2025, while married couples will receive a double payment of €1000 into their account in a matter of days.How much is the Rent Tax Credit: The Rent Tax Credit is 20% of the rent you paid in a year, up to a maximum of €500 per person, or €1,000 for a jointly assessed couple.
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