Most Irish renters are leaving money on the table, according to shocking new figures released today. The data reveals that a whopping 80% of eligible renters have yet to claim their €1,000 tax credit this year.
The tax credit, designed to ease the burden on renters amid soaring housing costs, has seen surprisingly low uptake. Only about 70,580 taxpayers have taken advantage of the scheme so far, despite an estimated 400,000 being eligible.
“It’s essentially free money that renters are missing out on,” says financial expert Jane Murphy. “We’re urging all renters to check their eligibility and claim this credit before it’s too late.”
The reasons for the low claim rate remain unclear, but experts speculate it could be due to lack of awareness or confusion about the application process.
According to The News Examiner, the government is considering launching an awareness campaign to boost participation in the scheme. In the meantime, renters are advised to consult with tax professionals or visit the Revenue website for more information on how to claim their credit.