The Help to Buy incentive is a program from the Irish Government that provides relief to first time buyers of a new home or apartment. The amount of relief granted through this incentive was recently increased due to economic pressures brought on by the Covid 19 pandemic. In the July 2020 Jobs stimulus package, the Government increased the amount of relief available temporarily through 31 December 2020. With the passing of Budget 2021, this increased relief has been extended to 31 December 2021. The incentive gives a refund of income tax and Deposit Interest Retention tax (DIRT) paid in Ireland over the previous 4 years to qualifying first time buyers.
Help to Buy only applies to properties worth less than €500,000, and the home or apartment must be new or self built. To qualify for Help to Buy, you must be a first time buyer who either buys or self-builds a new residential property between 19 July 2016 and 31 December 2021. However, the Help to Buy scheme does not apply to rental or investment properties. The scheme is limited …