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Clawback Stmp Duty

  • 24-05-2010 9:25am
    #1
    Lughaidh
    Closed Accounts Posts: 4 ✭


    hi there,

    Does anyone know the date from which the revenue will seek a clawback of Stamp duty? I bought my house in 1999 and rented it out in 2002. I rang the revenue and they said they do not look before 2001 (ie anyone who bought before that date). The form that you fill in when declaring possible breach of the '5 year rule' does refer to 2001 however the investor/owner occupier came into law in 1998.... anyone have any insights?:cool:


Comments

  • #2
    wishful thinker
    Closed Accounts Posts: 78 ✭✭wishful thinker


    Clawback
    Stamp duty relief granted will be clawed back if any person derives rent from the letting of the
    house or apartment within a period of 2 years from the date of the conveyance or transfer, other
    than under rent a room arrangements. The clawback becomes payable on the date that rent is first
    received from the property. A clawback will not arise where the property is sold to an unrelated
    third party during the 2-year period.
    Important Note: For instruments executed before 5 December 2007, to the extent that a dwelling
    house or apartment is rented out on or after 5 December 2007, it will not involve a clawback of the
    relief where this occurs in the third, fourth or fifth year of ownership.
    A Notification of the receipt of rent form (available on www.revenue.ie) should be completed to
    notify the Revenue Commissioners of the receipt of rent.


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