Tax Data

Wednesday, 3 May 2023

Questions (111)

Catherine Murphy

Question:

111. Deputy Catherine Murphy asked the Minister for Finance the estimated cost of abolishing stamp duty for first-time buyers of homes costing less than €425,000. [20510/23]

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Written answers

I am advised by Revenue that based on stamp duty returns for 2022, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers of homes of less than €425k is in the order of €40 million.

This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers where the consideration was less than the suggested threshold and taking the associated tax liability as the potential cost of exempting them from the duty.