Just 10% of all renters registered with the Residential Tenancies Board (RTB) have claimed the rent tax credit this year.
The Irish Examiner reported 40,631 renters have claimed the €500 credit as of July 9th.
It’s estimated there are approximately 400,000 registered renters with the RTB – meaning 10% of eligible renters have claimed the credit.
Since 2022, 238,066 renters in total have claimed the €500 credit.
RTB registration number
Taxback.com Spokesperson Marian Ryan previously told Newstalk many tenants are not applying for the tax credit “out of fear”.
“People are afraid to talk to their landlords to get the information they need,” she said.
“They're afraid if they have a conversation with the landlord and say, 'What's my RTB registration number?' the landlord goes, 'Here's your number there and we have to increase your rent'.
"We're finding that a lot - and we're even finding people coming to us saying, 'My landlord increased my rent last September and now they're talking about increasing it again a second time'.”
She said renters can typically find their RTB registration number on their website.
Rent tax credit
The rent tax credit was introduced in Budget 2023. The credit was claimable for 2022 retrospectively and can also be claimed for 2023.
The credit will be offered until 2025, with the future beyond that set to be decided by a future Government.
A single renter can claim €500, while jointly-assessed married couples or civil partners can claim €1,000.
The relief can also be claimed by parents paying for the child’s rent if they are attending a third-level institution. The rental property, including student accommodation, must be used specifically for their education.