Grant mentioned in Budget 2010??

uptowngirly

So - while hiding behind my sofa so I could pretend that Brian Lenihan was only messing with the budget, I think I heard mention of a new grant for renewable energies up to 10,000 euro....

Was I dreaming or did anyone else hear this or have any more info on it?

Oops - Budget 2011 I mean!

viztopia

i heard this also and i read through the budget briefing from some of the big accountancy firms. it seems a bit sketchy in that i dont think they are fully clear on what this will include fully. we will probably have to wait until the finance act is passed next year when the full details will be disclosed. this is unless sei or some one else takes control of this. from reading the information available on it it didnt specify what would qualify for relief and from reading it, it looks like you would get relief for money spent in 2011 in 2012. my thinking on this was that it was a measure to get rid of people doing cash jobs as it has a rather low threshold.

quentingargan

There are tax breaks offered, and the Minister said that these would complement the existing grants for insulation. However, the Irish Times next day reported that the tax breaks would replace the grants. There was nothing about that in the budget speech, but so much of the budget was leaked in advance, that the journalists may know more about this than the Dail!

scooter 007

if the grants are scrapped in favour of the 10000 euro tax relief will the home owner be better off or would the old grant system be more favourable to them

quentingargan

scooter 007 wrote: »

if the grants are scrapped in favour of the 10000 euro tax relief will the home owner be better off or would the old grant system be more favourable to them

The tax relief was at the lower rate, so you could claim back 25% of the price. Maximum under this would be €2,500 whereas many of the grants are more than this.

I think we'll have to wait for the Finance Bill to find out what the details are. In the meantime, I would put in grant applications for whatever you are thinking of doing. If the expenditure is in the next tax year, you should be eligible for the relief on top of the grant:):). If it all goes pear-shaped in the Finance Bill in January, you can just opt out:mad:.

Bif

quentingargan wrote: »

The tax relief was at the lower rate, so you could claim back 25% of the price. Maximum under this would be €2,500 whereas many of the grants are more than this.

I think we'll have to wait for the Finance Bill to find out what the details are. In the meantime, I would put in grant applications for whatever you are thinking of doing. If the expenditure is in the next tax year, you should be eligible for the relief on top of the grant:):). If it all goes pear-shaped in the Finance Bill in January, you can just opt out:mad:.

Folks,
I would appreciate if anyone had any update / links on this since yesterday's publication of the finance bill? Thanks.

quentingargan

Bif wrote: »

Folks,
I would appreciate if anyone had any update / links on this since yesterday's publication of the finance bill? Thanks.

The relevant section of the Finance Act seems to be 13(2) where The Authority means SEAI;

(2) (a) In this subsection ‘energy-efficient works’ means
works the purpose of which is to reduce the costs
incurred in respect of heating a residential premises.
(b) The Authority shall keep and maintain and make
available to the public a list of such energy-efficient 20
works as are, from time to time, determined by the
Minister for Finance, in consultation with the Minister
for Communications, Energy and Natural
Resources, to be energy-efficient works to which
relief under this section applies (in this section 25
referred to as ‘qualifying work’).

It seems fromt his that it will be down to the Ministers from time to time to decide... Q

Bif

Folks,
Any further news on the tax exemption for insulation work? Thanks

gunnerfitzy

It was provided for in the Finance Act 2011.

http://www.oireachtas.ie/documents/bills28/bills/2011/0811/b0811d.pdf

Section 13.

I haven't heard of specifics yet.

Last subsection of section 13.... 'This section comes into operation on such day as the
Minister for Finance may appoint by order.”. '