DIRT relief benefits just 74 first-time buyers

A tax refund system introduced in last year’s budget to aid first-time buyers has been described as an insult to those looking to get on the property ladder.

New figures show that just 74 applicants have benefited from the deposit interest retention tax (DIRT) refund scheme introduced in Budget 2015 which Finance Minister Michael Noonan predicted would help 9,500 people buy their first home.

“To support first-time buyers saving for their first home, I am introducing a refund for DIRT on savings used to purchase their home . . .