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Mortgage Interest Tax Credit

  1. Overview
  2. Qualifying conditions
  3. How much can you claim?
  4. Interest paid for less than a full year
  5. More than one claimant
  6. How to claim

Interest paid for less than a full year

Note

If you drew down your mortgage in 2022 and were registered for Local Property Tax in 2023, you may be unable to claim the Mortgage Interest Tax Credit. This is due to a Revenue system error. A fix is currently scheduled to go live on 7 September 2024. We apologise for any inconvenience caused and thank you for your patience.

If you paid interest for less than a full year in 2022 or 2023, the relief due will be prorated. This means that the maximum relievable interest of €6,250, and the maximum tax credit of €1,250, will be adjusted to reflect the shorter timeframe. 

  • Example

    Sarah has a qualifying home loan. Sarah had the loan for all of 2022 and paid it off on 30 June 2023. Sarah paid €6,000 interest in 2022 and €4,000 interest in 2023.

    As the timeframes are not the same, the interest paid in the longer period must be adjusted to match the shorter number of days. The adjusted figure is used to calculate the tax relief available.

Revenue systems will calculate the relief due to you when you have provided the relevant information.

For the formulas used to adjust the relievable interest, please see Appendix 2 of Tax and Duty Manual part 15-01-11B. 

Next: More than one claimant

Published: 02 July 2024 Print this page

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