Darren O'Rourke
Question:150. Deputy Darren O'Rourke asked the Minister for Finance the full-year cost of abolishing stamp duty on first-time house buyers where the value of the house is less than €400,000. [20155/24]
View answerWednesday, 8 May 2024
Questions (150)
Written answers
I am advised by Revenue that, based on stamp duty returns for 2023, the latest year for which fully analysed data is available, the estimated cost of abolishing stamp duty for first-time buyers of residential properties valued at less than €400,000 is in the order of €33 million. It is not possible to extract an estimate for houses only as apartments and houses are not separately identified on Stamp Duty returns.
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.