Revenue E-Brief Issue 46/2015, 21 April 2015
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.
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