Tax Data

Monday, 11 September 2023

Questions (459)

Darren O'Rourke

Question:

459. Deputy Darren O'Rourke asked the Minister for Finance the estimated cost of abolishing stamp duty on first-time buyers of homes of less than €375,000. [38439/23]

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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 €375,000 is in the order of €34 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.