Which of the following incentives does the government funded Help to Buy Scheme provide to eligible first-time buyers?

• A. Refund of any Capital Gains Tax paid.
• B. Unlimited threshold for Capital Acquisitions Tax.
• C. Refund of Income Tax and DIRT.
• D. Refund of Stamp Duty.

Answer: (C)

The incentive being tested is the refund of taxes already paid to help first-time buyers boost their deposit. The Help to Buy Scheme in Ireland refunds Income Tax and DIRT (Deposit Interest Retention Tax) paid in the previous four tax years to eligible buyers purchasing a new home. This makes it easier to raise the upfront funds needed for the purchase. It is not a refund of Capital Gains Tax, not an unlimited threshold for Capital Acquisitions Tax, and not a refund of Stamp Duty under this scheme. The focus is on returning tax you've already paid on income and savings to support buying a new home.