Written answers

Tuesday, 6 July 2010

10:00 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

Question 139: To ask the Minister for Finance if he will provide the stamp duty payable in respect of non first time buyers of both new and second hand houses; the various rates payable depending on value; and if he will make a statement on the matter. [29427/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The rates of Stamp Duty in respect of non first time buyers of new and second hand houses (including apartments) are set out in the following table.

Consideration/ValueRate of Duty
First €125,000Nil
Next €875,0007%
Excess over €1,000,0009%

Transactions for residential property, where the consideration (or the aggregate consideration) does not exceed €127,000, are exempt from stamp duty. The purchase of a new house or apartment with a floor area not exceeding 125 square metres is exempt from Stamp Duty where the house or apartment is occupied as the main residence of the purchaser for a period of two years from the date of the purchase.

There is a relief from Stamp Duty in the case of the purchase of a new house or apartment where the floor area exceeds 125 square metres and the house or apartment is occupied as the main residence of the purchaser for a period of two years from the date of the purchase. Under this relief, Stamp Duty at the above rates is charged on the site value or one quarter of the total value of the property (excluding VAT), whichever is the greater. Non-owner occupiers do not qualify for either the exemption or relief from stamp duty for new houses. They are liable to Stamp Duty on the transfer to them of new or second hand residential property at the rates shown above.

Photo of Brendan KenneallyBrendan Kenneally (Waterford, Fianna Fail)
Link to this: Individually | In context

Question 140: To ask the Minister for Finance the number of persons who availed of the first time buyers exemption from stamp duty this year on a county basis; and if he will make a statement on the matter. [29436/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the necessary basic data are not currently available in such a manner as to provide a basis for compiling the information requested by the Deputy.

Comments

No comments

Log in or join to post a public comment.