Example of tax relief on home renovation scheme

A homeowner/landlord paid a VAT registered and tax compliant electrician

€5,000 (exclusive of VAT) for rewiring his home/rental property. The work

was carried out in 2015 and the payments for the qualifying works were made

in 2015. No grants or insurance payments were received in respect of this

qualifying expenditure.

The tax credit is calculated as follows:

VAT exclusive amount €5,000 x 13.5% = €675

Tax Relief is granted as follows:

2016: €338

2017: €337

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie