Noonan announces extension of renovation scheme to rental properties

Noonan announces extension of renovation scheme to rental properties

Minister Michael Noonan has announced an extension to the Home Renovation Incentive Scheme to rental properties whose owners are liable for income tax from tonight until the end of 2015.

The Minister said he expected saving to be passed on in lower rents.

The Minister also announced a refund of DIRT on savings used to buy a home for first time buyers from tonight until the end of 2017 (up to a maximum of 20% of the purchase price).

He further announced a public consultation and may decide to penalise landowners who do not develop land that is zoned and serviced.

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