There are already in place a number of tax incentives to support residential property purchases by first-time buyers. All owner-occupiers, including first-time buyers, are generally exempt from stamp duty on new houses where the property is 125 sq. m. or less. In addition, there is more favourable stamp treatment for first-time buyers of second-hand houses up to €381,000 as compared to other purchasers. First-time buyers in common with other owner-occupiers are also not subject to capital gains tax on the gain from the disposal of their main residence. First-time buyers also qualify for tax relief on mortgage interest payments and the Deputy will recall that in budget 2003, I increased the annual ceiling on mortgage interest payments by first-time buyers who qualify for relief from €3,175/€6,350 – single/married or widowed – to €4,000/€8,000 – single/married or widowed. In addition, the period of time in which the higher amount of relief may be claimed was increased from five to seven years. First-time buyers who started to claim tax relief in respect of mortgage interest in the tax year 1998/99 or later stand to benefit from the new arrangements.