Are you upgrading your existing septic tank to a new septic tank/ sewage treatment system?
Do you know you can get up to €4050 to pay towards your new septic tank/ sewage treatment system under the Home Renovation Incentive (HRI) Scheme.
The Home Renovation Incentive (HRI) Scheme provides for tax relief for Homeowners and Landlords by way of an Income Tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works carried out on a main home or rental property by qualifying Contractors.
The amount of the HRI tax credit depends on the amount spent on qualifying works. Tax relief can be claimed on qualifying expenditure over €4,405 (before VAT at 13.5%) per property. This €4,405 (before VAT) can be the total from any number of jobs carried out and paid for from 25 October 2013 to 31 December 2015 for Homeowners claiming on their main home and on or after 15 October 2014 and up to 31 December 2015 for Landlords claiming on their rental property. While there is no upper limit on expenditure on qualifying works, the tax credit will only be given in relation to a maximum of €30,000 (before VAT at 13.5%) per property.
2015 will be the first year for HRI tax credits for Homeowners and 2016 for Landlords. In general, the HRI tax credit will be included in tax credits over two years, starting the year after the work is carried out and paid for.
Qualifying works carried out between 25 October 2013 and 31 December 2013 and paid for by Homeowners during that period will be treated as if they were paid for in 2014 for tax credit purposes.
Qualifying works carried out between 15 October 2014 and 31 December 2014 and paid for by Landlords during that period will be treated as if they were paid for in 2015 for tax credit purposes
Septic tank repair or replacement qualifies for this grant
Check out the FAQ’s on the revenue page http://www.revenue.ie/en/tax/it/reliefs/hri/hri-general-faqs.html#section1
For homeowners, 2015 is the first year in which you can claim a HRI credit. The claim facility is available now for homeowners on HRI online.
For landlords, 2016 will be the first year in which a HRI credit can be claimed. The claim facility on HRI online will be available for landlords from January 2016.
Checklist for applying::
- Details of the work carried out
- Ensure that you have paid or arranged to pay any Local Property Tax (LPT) or Household Charge that is due
- Check that your contractor has a VAT number and is tax-compliant – see Revenue’s FAQs for details of the proof required
- Ensure that the work qualifies – see ‘Qualifying work’ above
- Keep all supporting documentation – tax clearance certificates, estimates, receipts etc.
- Give the contractor the LPT Property ID of your property but not your PIN or PPSN
Check out our fully certified septic tanks with large storage capacity saving you money and our tanks are future-proof as they can easily be upgraded to sewage treatment tank at a later stage
Check out our fully certified sewage treatment tank saving you up to €1000*every 5 years, and our sewage treatment tank only costs €40 per annum to run with our energy saving cycle
We can cater for
- Individual Houses
- Small Communities
- Commercial Enterprises
- Caravan Parks
- Golf Courses