A number of amendments to Finance Bill 2022 were proposed by the Minister for Finance, Paschal Donohoe, for inclusion at Committee Stage of the Bill. While many of these amendments are primarily required to correct drafting and typographical errors in the Bill, the Temporary Business Energy Support Scheme (TBESS) has been extended to 28 February 2023, with the overall cap on support payments per undertaking increasing to €2 million from €500,000.
A new tax deduction for small-scale landlords that undertake retrofitting while the tenant remains in situ is introduced. The measure will provide for a tax deduction of up to €10,000 per rented residential property against Case V rental income, for certain retrofitting expenses, for a maximum of two rental properties.
The Minister for Finance also proposed amendments to the Keep Employee Engagement Programme (KEEP), the R&D Tax Credit, share based remuneration and the Directive on Administrative Co-operation (DAC7).
The Committee Stage debates for Finance Bill 2022 are scheduled to run until 16 November. Report Stage is scheduled for 23 and 24 November.