Dáil Éireann Debate, Tuesday - 28 November 2017
107. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of applying a 1% stamp duty for first-time buyers, maintaining the 2% for those who are purchasing a home having sold their home and applying a 5% stamp duty rate for investors including all persons and structures purchasing property as an investment. [49989/17]
Amharc ar fhreagraAs the Deputy’s Question refers to a home, it is assumed that the Question is in relation to residential property.
The current rate of Stamp Duty on residential property is 1% on the first €1 million of the consideration and 2% on any excess.
First time buyers are liable to the current Stamp Duty rates on residential property. The majority of such properties would attract a rate of 1% so no cost would arise from proposed change. It is not clear whether the 2% rate proposed for non-first time buyers would apply below as well above the €1 million threshold.
In addition, I am advised by Revenue that it is not possible to identify from Stamp Duty records those purchasers who are investors.
