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The government has given the go-ahead for the publication of a bill to reform stamp duty. As promised in their pre-election campaign, Fianna Fáil have now abolished stamp duty for all first-time buyers for all property purchased on or after March 31st 2007.
The following table compares stamp duty rates for First Time Buyers in Ireland before and after March 31st 2007:
|
COST |
First Time Buyers
Pre 31.03.07
|
First Time Buyers
Post 31.03.07 |
Others |
|
Up to €127,000 |
0% |
0% |
0% |
|
€127,001 - €190,500 |
0% |
0% |
3% |
|
€190,501 - €254,000 |
0% |
0% |
4% |
|
€254,001 - €317,500 |
0% |
0% |
5% |
|
€317,501 - €381,000 |
3% |
0% |
6% |
|
€381,001 - €635,000 |
6% |
0% |
7.5% |
|
€635,001 and over |
9% |
0% |
9% |
Many believe that the government did not go far enough in their reform of stamp duty, and hope that more reforms will be introduced in the December budget.
If you have any comments on this subject we would be delighted to hear them.
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