Dáil Éireann Debate, Tuesday - 4 October 2016
127. Deputy John Curran asked the Minister for Finance if he will ensure that any tax savings or other incentives being considered for first-time buyers in the upcoming budget will apply to both the purchase of new and second-hand houses; and if he will make a statement on the matter. [28188/16]
Amharc ar fhreagra129. Deputy Joan Collins asked the Minister for Finance the reason the financial assistance package and the proposed first-time buyer's grant are not being extended to first-time buyers who bought a home since the introduction of the Central Bank mortgage rules. [28612/16]
Amharc ar fhreagraI propose to take Questions Nos. 127 and 129 together.
The Government is conscious that there is a supply shortage of housing and of the challenges faced by first-time buyers in meeting the macro prudential rules for home loans. As a complement to the structural actions in 'Rebuilding Ireland - Action Plan on Housing and Homelessness' published on 19 July 2016, a new tax-based 'Help to Buy' incentive was announced.
Subject to the approval of the Oireachtas, eligibility for the incentive will be backdated to take effect from 19 July 2016. This was the date of the publication of the Action Plan and the backdating was announced with a view to avoiding any interruption in house sales, through potential purchasers deciding to defer purchases, pending the commencement of the incentive.
I will outline the full details of the incentive, including eligibility criteria and implementation method, on Budget day.
