TRS Mortgage Interest Tax Relief in Ireland

MORTGAGE TAX RELIEF IRELAND

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Unlike the UK - mortgage payers in Ireland can still get tax relief on mortgage interest payments. Known as MIRAS in the UK - where it was abolished years ago.
It is known as Tax Relief at source or TRS in Ireland.

Mortgage Tax Relief or TRS can be claimed in respect of qualifying loans secured on the deeds of your main residence i.e. a new mortgage, a top up loan, a home improvement loan, a re-mortgage or a consolidation of existing borrowings. The mortgage tax relief element on the mortgage interest is given, by your lender, either in the form of a reduced mortgage payment or a credit to your funding account. You can also claim mortgage tax relief in respect of a mortgage paid by you for your separated/divorced spouse, and a dependent relative (i.e. widowed parent, elderly relative) for whom you are claiming a dependent relative tax credit.

Go here - For the latest mortgage news and rates in Ireland -

There is a limit to the amount of tax relief that can be claimed in a year:
For First Time Buyers
Single Person €1,600 Married Couple - €3200
Non First Time Buyers
Single Person €600 per year, Married Couple €1,200

TIP: Don't assume you will automatically get the relief. To ensure you get mortgage interest tax relief - you need to complete a form TRS1 form available from your mortgage provider or from Revenue.ie.
The TRS Helpline number is 1890 46 36 26

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