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Qualifying Condition

Is your Mortgage Provider a Qualified Lender*. A qualifying loan for the purposes of the MITC is a loan provided by a qualifying lender listed by the Central Bank of Ireland as a ‘credit information provider’. The Central Bank of Ireland publish the list of credit information providers which is updated monthly and is available on the central credit register
https://www.centralcreditregister.ie/media/1711/liosta-de-shol%C3%A1thraithe-faisn%C3%A9ise-creidmheasa_cip-list-20240115.pdf"

Was the property acquired from a connected person**. If the residential property was acquired from an individual who is a connected party and it appears that the purchase price of the residential property substantially exceeds the market value of the property then the property will not be a qualifying property for the purposes of the MITC. A connected party is defined in Section 10 of the Taxes Consolidation Act 1997

Are you receiving Allowances for the propety as a member of Oireachtas***. The MITC is not available in respect of a residential property where a payment is received in respect of that property to which section 836 TCA (Allowances for expenses of members of Oireachtas) applies.

Is the property compliant with planning permission****. The residential property must be compliant with the provisions of any permission required under the Planning and Development Acts 2000 to 2022 that was granted on or before 31 December 2022. If the property is not compliant with planning permission the property is not a qualifying property for the purposes of the MITC

Are all Local Property Tax (LPT) obligations satisfied for the property*****. All Local Property Tax (LPT) obligations must be satisfied in order for the property to be a qualifying property for the MITC. If a property is exempt from LPT and this exemption has been claimed, it remains a qualifying property for the purpose of the MITC.

Is the property located in the Republic of Ireland******. A qualifying residential property for the MITC is: a) a building or part of a building located in the State which is used or suitable for use as a dwelling, and b) adjoining land which the occupier of the building or part of the building, has for his or her own occupation and enjoyment with that building or part of that building as its gardens or grounds of an ornamental nature.

Remaining Unpaid Balance at 31/12/2022*******. A qualifying loan means a loan from a qualifying lender which is used solely for the purchase, repair, development or improvement of the qualifying property or used to pay off another loan or loans used for the same purpose. The loan must be secured by the mortgage or interest in the qualifying property. The amount of the balance remaining unpaid on the loan or loans in respect of that qualifying property on 31 December 2022 is— a) not less than €80,000, and b) not more than €500,000.

Who resides at the Property********. A qualifying property is a residential property which is used as the sole or main residence of: a) the individual, b) a former or separated spouse of the individual, or a former civil partner or a civil partner from whom the individual is living separately in circumstances where reconciliation is unlikely, or c) a person who, in relation to the individual, is a dependent relative, and which is, where the residential property is provided by the individual, provided rentfree and without any other consideration.

Warning: The Calculator Does Not Work for This Scenario. The Calculator Does Not Work for a mortgage that was taken out after 01/01/2022 and cease prior to 31/12/2023. It does work for mortgages taken out prior to 01/01/2022 and ceased in 2023. It also works for mortgages taken out after 01/01/2022 and still being paid off after 21/12/2023.

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Qualifying Condition