A first time buyer of a house or apartment who purchases or self builds a property between 14 October 2014 and 31 December 2017 may be entitled to claim a refund of Deposit Interest Retention Tax (DIRT) paid on interest received.
The relief is confined to the DIRT deducted from the interest received on savings up to a maximum of 20% of the price of the house at completion, held at any time in the forty eight months leading up to the purchase.
To be eligible the first time buyers must not have purchased a property or self built before and the property purchased must be used as the first time buyers home. It must not be purchased for investment purposes
An application to get a refund of DIRT can be made on completion of purchase which must occur by 31 December 2017.
For self builds the property must be completed before 31 December 2017 and be suitable to live in immediately. The land must also be registered in the names of the first time buyers by that date.
To make a claim the property must be registered for Local Property Tax (LPT).
The claim form is on the LPT system once the purchaser logs in. It will allow the first time buyer submit a claim to obtain a refund of DIRT paid.