Dáil Éireann debate -
Tuesday, 12 Feb 2002

Vol. 548 No. 2

Written Answers. - Tax Code.

Conor Lenihan

Question:

207 Mr. C. Lenihan asked the Minister for Finance his plans in the context of the Finance Bill or otherwise to abolish the 4% stamp duty for first-time buyers of second-hand houses; and if he will make a statement on the matter. [4234/02]

Minister for Finance (Mr. McCreevy)

The rates of stamp duty charges applicable to second-hand houses purchased by first time buyers are as follows:

Second Hand House Purchases

AggregateConsiderationIR	AggregateConsideration€	First Time Buyers%
Up to 100,000	Up to 127,000	Nil
100,001 – 150,000	127,001 – 190,500	Nil
150,001 – 200,000	190,501 – 254,000	3.00
200,001 – 250,000	254,001 – 317,500	3.75
250,001 – 300,000	317,501 – 381,000	4.5
300,001 – 500,000	381,001 – 635,000	7.5
Over 500,000	Over 635,000	9

As can be seen from the above table, there is no 4% rate. A 4.5% rate is chargeable between €317,501 to €381,000. However, there is an exemption from stamp duty at prices up to €190,500. In the last few years I have introduced relieving measures in the stamp duty code in regard to first-time buyers of second-hand houses. I have no plans at present for further relieving measures. However, the matter will be kept under review.