Written answers
Tuesday, 22 February 2005
Department of Finance
Tax Code
8:00 pm
Martin Ferris (Kerry North, Sinn Fein)
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Question 156: To ask the Minister for Finance the number of first-time buyers who have paid stamp duty at the lowest rate, 3%, in Dublin in 2004; and the number who paid stamp duty at the lowest rate, 3%, in Mayo in 2004. [5606/05]
Martin Ferris (Kerry North, Sinn Fein)
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Question 157: To ask the Minister for Finance the number of first-time buyers in 2004 who were exempt from paying stamp duty; the number who paid at the 3%, 3.75%, 4.75%, 7.5% and 9% rates; and the amount of revenue raised in each rate for first-time buyers. [5607/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I propose to take Questions Nos. 156 and 157 together.
As the Deputy will be aware, I changed the stamp duty rates for first-time owner-occupiers of second-hand property in the 2005 budget, which was announced on 1 December 2004. The following table, which was provided to the Deputy in a previous parliamentary question response, outlines the old rates which were applicable up to 1 December 2004, as well as the new rates as applicable on or after 2 December 2004. It also shows relevant information available regarding the number of transactions and the stamp duty yield relating to first-time buyers who paid stamp duty in 2004 as provided to me by the Revenue Commissioners:
| Thresholds | First-Time Buyer Rate Pre-Budget | No. of transactions for First Time Buyers (Pre-Budget) | First-Time Buyer Rate Post-Budget | No. of transactions for First Time Buyers (Post-Budget) | Stamp Duty Yield for First Time Buyers |
| % | % | â'¬m | |||
| €190,501 to €254,000 | 3.00 | 3,970 | Exempt | n/a | 26.7 |
| €254,001 to €317,500 | 3.75 | 2,542 | Exempt | n/a | 26.5 |
| €317,501 to €381,000 | 4.50 | 1,069 | 3 | 35 | 16.4 (4.5%) |
| 0.4 (3%) | |||||
| €381,001 to €635,000 | 7.50 | Unknown | 6 | 16 | 0.4 |
As the Deputy was previously advised, stamp duty rates for property transactions exceeding €381,000 up to 1 December 2004 and for transactions exceeding €635,000 on or after 2 December 2004 were the same for all purchasers and, therefore, it is not possible to distinguish first-time buyer transactions from other transactions in excess of those values.
As the Deputy was also advised, statistics on stamp duty transactions are not compiled by reference to the address of the property purchased and, accordingly, it is not possible to provide the information requested by reference to counties. Particulars of transactions where no stamp duty applies are not normally captured. Accordingly, it is not possible to provide reliable information in relation to exempt categories.
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