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Stamp Duty and Renting Stamp Duty Claw Back

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  • 16-05-2006 2:35pm
    #1
    Psygnosis
    Registered Users Posts: 1,484 ✭✭✭


    I've heard of it and I've been wondering what the story is with it - I've heard a few different things - but someone told me the clawback was for the proportion of the 5 years that you rented it - do you know if that's the case or am I being way over-optimistic!!!
    I'm in my place about 4 1/2 years, so if they were to clawback the lot for the sake of six months it would be a big loss and I'd be better off waiting till the 5 yrs was up....

    What do you guys recokon


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    #2
    Borzoi
    Registered Users Posts: 2,876 ✭✭✭Borzoi


    There's no mention of it being on payable on a pro-rata basis that you suggest on www.oasis.gov.ie

    Enquire with the revenue commisioners is probbaly the best bet


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    #3
    utopian
    Closed Accounts Posts: 139 ✭✭utopian


    Psygnosis wrote:
    I've heard of it and I've been wondering what the story is with it - I've heard a few different things - but someone told me the clawback was for the proportion of the 5 years that you rented it - do you know if that's the case or am I being way over-optimistic!!!
    I'm in my place about 4 1/2 years, so if they were to clawback the lot for the sake of six months it would be a big loss and I'd be better off waiting till the 5 yrs was up....

    What do you guys recokon

    I think it is CGT that is calculated on a pro-rata basis in this case.


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    #4
    FillSpectre
    Closed Accounts Posts: 834 ✭✭✭FillSpectre


    My understanding is they claw the whole lot back as the deal is you live in it for 5 years not close to. There are cut off points and 5 be the number of years


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    #5
    Mad Mike
    Registered Users Posts: 714 ✭✭✭Mad Mike


    revenue.ie is the place to go:

    http://www.revenue.ie/revguide/stampduty.htm

    It seems pretty clear to me that if you rent any time within the first five years (other than rent a room) then you are subject to the full clawback. Ouch - wait the six months.


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