Home renovation tax incentive scheme will benefit both homeowners and tradesmen - Mulherin

Fine Gael Mayo TD for Mayo, Michelle Mulherin, has welcomed the announcement by Minister for Finance Michael Noonan that home renovation tax incentive scheme is being introduced to help families renovate their homes.

“I am delighted that Minister Noonan is giving people their VAT back on home improvements,” Dep Mulherin said. “This will be a great boost to families who wish to expand and improve their homes and will act as a significant boost to tradesmen and people in the construction industry. The home renovation tax incentive scheme will mean that people will get their VAT of 13.5 per cent back on extensions and renovations to their homes. The VAT will be returned on amounts over €5,000 and under €30,000. This will enable people to make improvements to their family homes and generate employment for people in the hard hit construction sector.”

Explaining how the scheme will work, Dep Mulherin said: “In order to avail of this scheme, people must use a tax compliant and VAT registered contractor. This is good news for tradesmen and sub-contractors who are trying to compete with black market operators. This measure is about growing the construction sector sustainably and helping families to improve their homes. It will give work and income to many sub-contractors and tradesmen who were left destitute by Fianna Fáil. We need a healthy construction sector and this scheme will help revitalise the industry in a sustainable manner and help get people back to work.”

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