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Eamonn Farrell/Photocall Ireland

Saving to buy your first home? Michael Noonan had some good news for you...

First time buyers will get a refund on the money they saved for their deposit.

IF YOU ARE looking to buy a house over the next year, you’ll be happy to hear about a new initiative Finance Minister Michael Noonan announced today.

As part of Budget 2015, he said first-time buyers will receive a refund of DIRT (Deposit Interest Retention Tax) on their savings, worth up to 20% of the purchase price. DIRT, at the rate of 41%, is currently deducted at source by banks from interest paid on savings.

This change essentially means that buyers will get back the the interest on the money they saved for the deposit for their new home. Noonan said he expects the banks to offer specific products for this section of the market.

The refund will apply from tonight and will run until the end of 2017.

In his Budget 2015 speech, the minister said the property market is “not currently meeting the needs of our citizens” and this is just one of the initiative being introduced to address this.

First published 3pm

Catch up on the rest of Budget 2015>

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22 Comments
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    Mute ⚡ Seánie ⚡
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    Jul 25th 2018, 3:08 PM

    I’m off to cut a Mars Bar into 4… Feck the begrudgers

    135
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    Mute Harry Whitehead
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    Jul 25th 2018, 4:41 PM

    @⚡ Seánie ⚡: it’s even more fun when you glue four Kitkat Chunkies together and see the reaction from others.

    55
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    Mute Seriously stunned
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    Jul 25th 2018, 5:47 PM

    @Harry Whitehead: brilliant :)

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    Mute Donal Desmond
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    Jul 26th 2018, 1:35 AM

    @Harry Whitehead: All Kit Kat lovers will never forgive you for that scurrilous comment. Sacrilege of the highest order. Will not sit at table in canteen at work with the unbelievers who produce supermarket home brands of Kit Kat. Peasants who do not know the true meaning of four fingers.

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    Mute Martin Sinnott
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    Jul 25th 2018, 3:40 PM

    Did they give two fingers to KitKat

    68
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    Mute Dlow Brown
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    Jul 25th 2018, 3:15 PM

    Ah here…… take a break lads

    100
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    Mute Fat Face 99
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    Jul 25th 2018, 4:20 PM

    Just as well they stamp their name on each bar or I wouldn’t have a clue what I was eating……..

    37
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    Mute Pixie McMullen
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    Jul 25th 2018, 4:19 PM

    Can i have a Kit Kat chunky?
    Sorry, we only have the ordinary ones…
    That`s what i meant, you fa..

    40
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    Mute Tony Harris
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    Jul 25th 2018, 8:35 PM

    @Pixie McMullen: 10/10

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    Mute Ger
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    Jul 25th 2018, 3:16 PM

    My whole life has been a lie

    39
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    Mute Chipstix
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    Jul 25th 2018, 3:55 PM

    I’m never satisfied by one kit-kat, I need about 3 of them they’re all finger and no chocolate if you ask me

    28
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    Mute Andy
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    Jul 25th 2018, 4:11 PM

    Tough Break..

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    Mute Shane Cormican
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    Jul 25th 2018, 3:39 PM

    Two fingers to them so

    14
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    Mute Irish Political GIF
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    Jul 25th 2018, 4:52 PM

    The fact that they even asked has put me off kitkats

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    Mute Fiona Fitzgerald
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    Jul 25th 2018, 8:59 PM

    Mind you, people were familiar with the real Toblerone shape before the other company took chunks out of it at their discretion. I didn’t hear that company arguing that people had come to expect the usual trademark shape. With all the usual triangles.

    7
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    Mute Shane Cormican
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    Jul 25th 2018, 3:39 PM

    Two fingers to them so!!

    5
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    Mute Maggie O'Sullivan
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    Jul 25th 2018, 9:00 PM

    FFS REALLY!!!!

    4
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    Mute Red Ruskie
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    Jul 25th 2018, 3:52 PM

    Have a break have a quick crap…

    10
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    Mute Your Ma
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    Jul 25th 2018, 6:10 PM

    Have a break have a tandem!

    2
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    Mute Brendan T. M. P. Bur
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    Jul 25th 2018, 4:49 PM

    Two fingers by two to Nestle! Nice to be mid silly season !!

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    Mute Liam Treacy
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    Jul 25th 2018, 4:54 PM

    Its the twox2 fingers for Nestle so.

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    Mute
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    Jul 25th 2018, 11:06 PM

    Leo bars are much more wide spread in Belgium I’d say the average Belgian would think ok Leo if you showed them the Kitkat shape can’t nestle just be happy with their regional trademarks can’t have an Eu one if it’s not popular or even we’ll known in EU.

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    Mute BMJF
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    Jul 26th 2018, 12:02 PM

    I guess the court gave them the..eh…two fingers!!

    1
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