Dáil Éireann Debate, Thursday - 2 March 2017
47. Deputy Josepha Madigan asked the Minister for Finance if there are plans for separated persons who have agreed to relinquish their ownership of a family home on foot of a court order to be treated as a first-time buyer for the help-to-buy initiative announced in the last budget (details supplied); and if he will make a statement on the matter. [10824/17]
View answerThe tax treatment referred to by the Deputy, regarding an exemption from Stamp Duty for certain first-time buyers ceased to apply to instruments executed on or after 8 December 2010.
The legislation that introduced the Help to Buy incentive in Finance Act 2016, now contained in Section 477C of the Taxes Consolidation Act 1997, defines a first-time purchaser as "an individual who ... has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his or her own behalf a dwelling". This definition is in line with that which underpins the Central Bank's macro-prudential mortgage rules.
Those who previously purchased homes are not eligible for the Help to Buy scheme. Such individuals may have already received the assistance of the State in relation to their original home purchase through grants or through mortgage interest relief. I have no plans to introduce the amendment suggested by the Deputy.
