Changes to the Mortgage Tax Relief Law
Since the Law was passed in July a few amendments have been made, these include:
- Limit of maximum amount reimbursable during 1st year changed to 40% instead of 20% as previously stated, although the 20% limit is still applicable on the remaining 4 years.
- Change in the maximum amount of tax relief you can claim if you are registered disabled. If the mortgage is in a single name and the person is registered disabled the maximum amount reimbursable is now 7,500€ (1,500€per annum), instead of 3,750€ (750€per annum) as previously stated. If the mortgage is in joint names and at least of the couple are registered disabled the maximum amount reimbursable is now 15,000€ (3,000€per annum) instead of 7,500€ (1,500€per annum) as previously stated. Again these are only the maxium amounts reimbursable in reality the limit is still dictated by the limit of 20% of the intrest payable on the mortgage during it first 5 years (40% in the 1st year)
