Paul Kehoe (Wexford, Fine Gael)
Link to this: Individually | In context

Question 101: To ask the Minister for Finance the tax reliefs or incentives which are available to persons wishing to install environmentally friendly systems when building a new home; his plans to offer more incentives to people willing to invest in these systems; and if he will make a statement on the matter. [9822/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

A wide range of reliefs and incentives are available through the tax system to support the construction of new houses and apartments. These include stamp duty reliefs for first time buyers and mortgage interest relief, as well as the reliefs available to investors or owner occupiers under the property-based incentive schemes. Any additional construction costs associated with the installation of environmentally friendly systems when building a new home would, of course, be reflected in the value of the reliefs to the taxpayers concerned. However, I have no plans to introduce specific tax reliefs in respect of such systems.

In budget 2006, I announced that the Minister for Communications, Marine and Natural Resources intended to launch several innovative grant schemes relating to domestic renewable heat grants. I understand that his Department, in conjunction with Sustainable Energy Ireland, is developing the necessary detailed measures to roll out the new programme and that these will be announced shortly.

John Perry (Sligo-Leitrim, Fine Gael)
Link to this: Individually | In context

Question 102: To ask the Minister for Finance if a person, details supplied, in County Sligo will qualify for the owner-occupier relief in the rural renewal scheme; and if he will make a statement on the matter. [9855/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I am advised by the Revenue Commissioners that the person concerned does not meet the qualifying conditions for owner-occupier relief in the rural renewal scheme. To obtain owner-occupier relief, a person must satisfy the condition that the expenditure on which relief is claimed must relate to a house situated within the "qualifying rural area" as defined in section 372L(1)(a) of the Taxes Consolidation Act 1997. The qualifying rural area is described in Schedule 8A of the Taxes Consolidation Act 1997 and Part 5 of Schedule 8A lists the qualifying district electoral divisions in County Sligo.

Sligo County Council has confirmed to the Revenue Commissioners that the address given by the person concerned does not fall within any of the qualifying district electoral divisions listed in Schedule 8A of the Taxes Consolidation Act 1997. Accordingly, on the basis of the details supplied, the applicant does not qualify for owner-occupier relief under the rural renewal scheme.

John Perry (Sligo-Leitrim, Fine Gael)
Link to this: Individually | In context

Question 103: To ask the Minister for Finance if persons, details supplied, will have to pay stamp duty on a second hand house; and if he will make a statement on the matter. [9858/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

The rate of stamp duty on residential property is dependent on the status of the buyer — first-time buyer or owner occupier — and whether the property is new or second-hand. Stamp duty is chargeable on the purchase of residential properties greater than or equal to €127,001. There are exemptions available for first-time buyers and owner occupiers.

First-time buyers can purchase second-hand properties up to €317,500 without a liability to stamp duty. Reduced rates are available after €317,500. Leaflet SD10A, which is available on www.revenue.ie, outlines the various rates applicable and other information which may be of assistance.

All owner occupiers, including first-time buyers, can purchase a new home between 38 sq m and 125 sq m, where a floor area compliance certificate has been obtained, without a liability to stamp duty. Where a new house is over 125 sq m, stamp duty is charged on either the value of the site or 25% of the value of the property, whichever is the greater. Any question as to whether any reliefs apply will be a matter of fact based on the circumstances of the purchaser.

Michael Ring (Mayo, Fine Gael)
Link to this: Individually | In context

Question 104: To ask the Minister for Finance the redress a person has in view of the fact that they paid stamp duty on their credit card, twice in one year and their bank has refused to issue them with a refund. [9863/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

A person who holds a credit card account with a credit card provider pays stamp duty on that credit card account once for each 12-month period ending on 1 April each year. Where a person cancels a credit card account within a 12-month period, he or she pays the charge at the time of cancellation. This means that, in respect of any credit card account, an individual will only pay once for the year ending on the following 1 April. Where the individual closes a credit card after 1 April in any year, a stamp duty charge of €40 will arise as the account has been maintained by the financial institution during the year ending on the following 1 April. This is consistent with applying a stamp duty charge for a year or part of a year for which the credit card account is held.

Section 128 of the Finance Act 2005 contained measures to eliminate a double stamp duty charge for the same year on the switching of financial cards. If an individual switches accounts after 2 April 2005, he or she will pay the stamp duty to old bank or card issuer on closing the account. This will be requested in the final statement. The old bank or card issuer will then issue the individual with a letter of closure. This letter will confirm that the stamp duty has been paid for the period in question. This should be presented to the new bank or card issuer to ensure that a further charge is not made. An individual may switch his or her account as often as he or she likes and will still only be charged tax on the original account, provided he or she obtains this letter of closure each time the account is closed. The second and subsequent bank or card issuer will issue a letter of closure once it has proof that the duty has been paid on the first account. If he or she remains concerned about his or her treatment, the person concerned could contact the Financial Services Ombudsman or the Financial Regulator.