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Home Renovation Incentive - grant deduction when total cost is above 30K

  • 07-01-2015 11:10am
    #1
    ddav
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi,

    I will be claiming the tax credits for the home renovation I carried out last year.

    My contractor has already added the payments to HRI online so when I log in I can see the total amount paid was 51K.

    With no grant I would get the maximum 30K refund which would be 4050 tax credits over 2 years.

    The question I have is, I got an SEAI grant of 1960 euro.

    I have read that 3 times this amount must be deducted from the qualifying amount.
    However, is the qualifying amount 30K or 51K.

    If its 51K I will still get the full 4050 returned in tax credits as I will still have 45120 when I subtract the grant *3.
    However, if it's deducted from the 30K then the amount I can claim for is 24120. This results in 3256 tax credits over the two years.

    Thank you,
    Dave.


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