After a weekend finalising a number of measures for the upcoming budget, the government is set to introduce a €1,000 tax relief for hard hit homeowners as they target the 'squeezed middle'
Budget 2024 is set to be officially announced tomorrow as the government spent the weekend finalising measures.There will also be a significant cost of living package.The package is expected to include a number of one-off lump sums, a double child benefit payment and energy credits for households.
This will be a tax-relief scheme for mortgage holders who have been hit with a waves of interest-rate hikes due to record levels of inflation. The scale of the package in this area is not yet clear, but it is likely to be restricted to those whose mortgage bills have gone up, and so those on fixed rates are unlikely to qualify. A time limit may also be put on the scheme.
Instead, mortgage holders would have to apply to the Revenue Commissioners to get a special credit, in the same way as those applying for the rent credit tax relief have had to do.
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