Home renovation tax incentive scheme will give construction sector a much needed boost – Lawlor

Fine Gael TD for Kildare North, Anthony Lawlor, has today (Tuesday) welcomed the announcement in today’s Budget of a home renovation tax incentive scheme saying it will give the beleaguered construction industry in this country a much needed boost.

“I welcome today’s announcement which will not only greatly assist families with the cost of renovating their homes, but it will give a much needed boost to the construction industry in terms of job creation.

“With many families across the country living in houses that no longer suit their needs due to their expanding families, today’s home renovation tax incentive scheme will allow them to renovate their homes to make them more suitable and claim back the VAT of 13.5% over a two year period.

“This measure will also give the construction industry, which collapsed when the economic crisis hit, a much needed boost and help the many skilled workers who are on the Live Register to re-enter the workforce. VAT can be claimed back on a home renovation project costing between €5,000 and €30,000. In order to be eligible for this scheme, people must use a tax compliant and VAT registered contractor.

“Earlier this year I made submissions to the Taoiseach and Minister Noonan calling for this much needed support for the construction sector and I am pleased that this measure has been included in Budget 2014.

“While we can never again allow the construction industry to spiral out of control as it did in the past, we recognise that every functioning economy needs a functioning construction sector as part of a sustainable economic model. With that in mind, it is imperative that we help the construction sector in this country get back on its feet and I am confident that measures such as these will give the industry a much needed boost and help people on the Live Register get back to work.”

ENDS