Students can claim rent tax credit up to €500 back if you’re single and paying tax, or the rent tax credit can be claimed by your parents up to €1,000 for your rent, if you are renting RTB registered accommodation.
Are you a college student in Ireland?
Looking to save on taxes? The Rent Tax Credit might be your answer.
Here’s what you need to know:
What’s the Rent Tax Credit?
- It’s a tax relief for renters.
- It reduces your income tax. You could get up to €500 back if you’re single.
- Students paying taxes can claim it. If you’re in RTB-registered accommodation, your parents can claim it for you.
Quick Tax Tips:
- Earned over €17,000 in 2022? You might have a tax bill and can claim the credit, possibly getting up to €500 back.
- Earned under €17,000 in 2022? Your parents could claim up to €1,000 for your rent.
- Not sure which option is best?
- We can help!
Who’s Eligible for Rent Tax Credit ?
- If you earned over €17,000 in 2022 and paid rent, you might qualify.
- Your rental must be registered with the Residential Tenancy Board (RTB) or be a rent-a-room deal with a non-relative landlord.
- Parents can’t claim if you’re in a rent-a-room setup.
- You can’t claim if you get housing support like HAP, Rent Supplement, or the Rental Accommodation Scheme.
- Also, no claims if you’re renting from and paying rent to your parents.
How to Claim Rent Tax Credit :
- Check if you’re eligible.
- Complete a tax return online on the Revenue website.
- Report all job and taxable welfare income.
- Confirm your eligibility and any other tax credits you want.
Feeling lost? Taxes can be tricky.
We’re here to help students like you understand and make the most of tax benefits. Get in touch with us Now
In Summary, Irish college students paying rent might be eligible for the Rent Tax Credit. It’s a chance to lower your tax bill. To get it, ensure you meet the criteria and fill out a tax return.