First-time buyers who purchased their first home in December 2017 may claim DIRT deducted from deposit interest in a period ending on the date of purchase.

• A. 6 month period ending on the date of purchase.
• B. 12 month period ending on the date of purchase.
• C. 24 month period ending on the date of purchase.
• D. 48 month period ending on the date of purchase.

Answer: (D)

DIRT relief for first-time buyers is tied to a four-year window ending on the date of the home purchase, during which deposit interest can be claimed. This four-year period recognizes the time savers typically build up a deposit using saving in anticipation of buying a home. For a purchase in December 2017, the relevant window spans from December 2013 to December 2017, so the deposit interest earned in that entire period on savings used for the purchase can be claimed. The other shorter windows would not cover the full four-year period, which is why they aren’t applicable here.