Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Stamp duty???

Options
  • 22-05-2013 8:55pm
    #1
    jocotty
    Closed Accounts Posts: 338 ✭✭


    Hi,

    I am a first time buyer, about to buy a house at a cost of 255k.

    Can anyone tell me roughly how much stamp duty I will be looking at paying? And when would I be paying it?

    don't know anything about it, so any guidance much appreciated,

    Thanks,

    Jo
    Tagged:


Comments

  • Options
    #2
    mel.b
    Registered Users Posts: 3,130 ✭✭✭mel.b


    Stamp duty is 1% of the purchase price and is payable to your solicitor on the day you get the keys.


  • Options
    #3
    Obro
    Registered Users Posts: 49 ✭Obro


    Hi

    I am pretty sure its 1% up to a Million and 2% above a Million. Best of luck with your purchase.


  • Options
    #4
    jocotty
    Closed Accounts Posts: 338 ✭✭jocotty


    Obro wrote: »
    Hi

    I am pretty sure its 1% up to a Million and 2% above a Million. Best of luck with your purchase.

    Thanks lads.

    Do first time buyers have much of an advantage these days? If so, what do first time buyers get that other people dont?

    Jo


  • Options
    #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    They are exempt from paying property tax until the end of 2016.


  • Options
    #6
    jocotty
    Closed Accounts Posts: 338 ✭✭jocotty


    Mayo Gurl wrote: »
    They are exempt from paying property tax until the end of 2016.


    is that the lot ya? used it be that first time buyers did not have to pay stamp duty, r something like that????


  • Advertisement
  • Options
    #7
    Obro
    Registered Users Posts: 49 ✭Obro


    This might help :

    http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/stamp_duty.html


  • Options
    #8
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    jocotty wrote: »
    is that the lot ya?

    Yes more or less, you pay stamp duty of 1%. The exempt from the property tax on a 255k price is a full years 495 in 2014. It would be preferable for you to get that sale price to 249 max so you'd pay 405 instead.
    http://www.revenue.ie/en/tax/lpt/liability.html

    There is no MIR anymore so no preferential treatment there. Only other "advantage" is you might get a slightly preferential mortgage rate from your bank as "new business".


  • Options
    #9
    Tigger
    Closed Accounts Posts: 16,705 ✭✭✭✭Tigger


    gurramok wrote: »
    Yes more or less, you pay stamp duty of 1%. The exempt from the property tax on a 255k price is a full years 495 in 2014. It would be preferable for you to get that sale price to 249 max so you'd pay 405 instead.
    s".

    Also you'll save six grand


  • Options
    #10
    tim9002
    Registered Users Posts: 92 ✭✭tim9002


    jocotty wrote: »
    is that the lot ya? used it be that first time buyers did not have to pay stamp duty, r something like that????

    First time buyers did have to pay stamp duty until the mid 2000s on second hand houses and had to pay a lot more than 1%.


Advertisement