Repayment of appropriate tax to first-time purchasers - S266A TCA 1997

Section 266A of the Taxes Consolidation Act 1997 provides for refunds of Deposit Interest Retention Tax (DIRT) for first-time buyers. It only applies to properties purchased or self-built as the first-time buyer’s place of residence between 14/10/2014 and 31/12/2017.

First-time buyers can claim a refund of DIRT on savings up to a maximum of 20% of the purchase price, or in the case of self-builds, 20% of the completion value of the property, in the 48 month period prior to the relevant purchase or relevant completion date, as appropriate.

To make a claim, the property must be registered for Local Property Tax (LPT). Refunds can be claimed online via the LPT system on www.revenue.ie and will be paid to the claimant’s bank account.

Further information and Frequently Asked Questions can be found on the DIRT First-Time Buyers Relief page of www.revenue.ie

Revenue has published a new Tax and Duty Manual Part 08-04-10 . This manual also sets out the conditions for applying for a refund of DIRT.

21 April 2015