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Stamp Duty reduction

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  • 09-12-2007 1:18am
    #1
    sternn
    Registered Users Posts: 929 ✭✭✭


    Does anyone have any theories as to why stamp duty was reduced at a date before the budget was declared? (almost a month before)?

    Its a bit fishy dont you think?


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    #2
    Glenbhoy
    Registered Users Posts: 1,853 ✭✭✭Glenbhoy


    sternn wrote: »
    Does anyone have any theories as to why stamp duty was reduced at a date before the budget was declared? (almost a month before)?

    Its a bit fishy dont you think?

    No, standard, it's to ensure that no deals are put on hold and all are completed as they agreed....


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    #3
    sternn
    Registered Users Posts: 929 ✭✭✭sternn


    Well, from what i understand, this has been the first time a tax change has been done before midnight of the budget. Usually it occurs on midnight of the day of the budget.

    I have some suspicion that it was done to satisfy someones needs....someone in government maybe


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    sternn wrote:
    Well, from what i understand, this has been the first time a tax change has been done before midnight of the budget. Usually it occurs on midnight of the day of the budget.

    I have some suspicion that it was done to satisfy someones needs....someone in government maybe

    Its not too unusual. If my memory serves me correct, the stamp duty changes which exempted First Time Buyers on second-hand properties were also structured in a similar manner (i.e. its enforcement date was about 8 weeks prior to the scheme being announced). I would be extremely surprised if the Department of Finance pandered to someone in a manner that you are suggesting- that said the issue of claiming of pension rights for a certain ex-minister does pop into mind.

    Measures such as these are not limited to the budget however- have a look at the Finance Bill when its published (probably mid-Jan/early Feb) it'll be peppered with interesting little oddities. If something was being introduced in a less than forthright manner- the budget is hardly where it would be advertised.


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