Michael Noonan
Ceist:250 Mr. Noonan asked the Minister for Finance the estimated cost to the Exchequer of waiving stamp duty for all first time purchasers of houses; and if he will make a statement on the matter. [23309/00]
Vol. 524 No. 5
250 Mr. Noonan asked the Minister for Finance the estimated cost to the Exchequer of waiving stamp duty for all first time purchasers of houses; and if he will make a statement on the matter. [23309/00]
The Revenue Commissioners inform me that up to date reliable statistics are not yet readily available to enable the cost to the Exchequer of eliminating stamp duty for all first time buyers of houses to be calculated. However, many first time owner-occupier buyers are, at present, either exempt from stamp duty or pay at a reduced rate. The position is as follows. In the Finance (No 2) Act, 2000, I increased the exemption from stamp duty from £60,000 to £150,000 in the case of first-time owner-occupier purchasers. Also, rates of stamp duty for first-time buyers at values in excess of £150,000 and up to £300,000 are now 25% less than for other owner-occupiers.