According to the Irish Independent’s John Cradden, time is ticking for those seeking tax relief on their home renovations. The Home Renovation Incentive Scheme was established by Budget 2014, and offers relief “by way of an Income Tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works carried out on a main home or rental property by qualifying Contractors”.
The scheme ends on December 31st 2016, so you better act fast if you’re still trying to figure out should you opt for one window or two.
The single life
Life as a single person isn’t necessarily the terrible tragedy it is sometimes made out to be. It can, however, be more expensive (though we’re not suggesting you find a partner simply for financial reasons). Writing in The Irish Times this week, Conor Pope notes that singletons can expect to fork out more across the board – more for accommodation should they choose to live alone, more on the attendant bills that others can share, and more of a burden when it comes to taxes, motor insurance and even gym memberships.
Of course there’s a simple solution for many of these issues – find some flatmates you’re not romantically involved with. And a friend to come with you to the gym.
Making the move
Finally, are you thinking about saving for a deposit for a house? If so, consumerhelp.ie has put together a very handy piece on how you can succeed in getting a roof over your head that you can call your own (or at least when you’ve finally paid off the mortgage).
Top tips include comparing savings accounts, dining in instead of splurging on a fancy meal, re-evaluating your subscriptions (including that gym membership you never use), and a variety of household costs you can reduce.