Hi Folks,
In the most recent budget Mr. Noonan mentioned that first time buyers could claim some DIRT back on sums of monies which were put towards a housing deposit.
I have searched the revenue website but am at a loss as to how exactly you claim this back. Is there a specific form for this or has the documentation yet to be produced?
Also, I believe that the amount of DIRT you can claim back is capped at 20% and goes back 4 years so I am correct with the following calculation (assuming 3% deposit interest payed per year)?
[Year]-----[DIRT Rate]------[Savings]------[Interest Earned]------[DIRT Payed]------[20% Refund]
2011-----------27%----------------10,000-----------------300-------------------------81--------------------16.2
2012-----------30%----------------20,000-----------------600------------------------180--------------------36
2013-----------33%----------------30,000-----------------900------------------------297--------------------59.4
2014-----------41%----------------40,000----------------1,200----------------------492--------------------98.4
Total refund = 16.2 + 36 + 59.4 + 98.4 = 210?
Thanks.
In the most recent budget Mr. Noonan mentioned that first time buyers could claim some DIRT back on sums of monies which were put towards a housing deposit.
I have searched the revenue website but am at a loss as to how exactly you claim this back. Is there a specific form for this or has the documentation yet to be produced?
Also, I believe that the amount of DIRT you can claim back is capped at 20% and goes back 4 years so I am correct with the following calculation (assuming 3% deposit interest payed per year)?
[Year]-----[DIRT Rate]------[Savings]------[Interest Earned]------[DIRT Payed]------[20% Refund]
2011-----------27%----------------10,000-----------------300-------------------------81--------------------16.2
2012-----------30%----------------20,000-----------------600------------------------180--------------------36
2013-----------33%----------------30,000-----------------900------------------------297--------------------59.4
2014-----------41%----------------40,000----------------1,200----------------------492--------------------98.4
Total refund = 16.2 + 36 + 59.4 + 98.4 = 210?
Thanks.