First Time Buyer in Ireland, but previous FTB overseas?

C

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My wife and I lived in Australia for 7 years, became citizens, bought an apartment in which we lived for almost 4 years, but we decided to come home for family reasons. Rented out the apartment in case we decided to go back, and just recently sold it. Now, having settled in Ireland we are looking to buy here...are we disqualified as First Time Buyers even though to the Irish tax system we are, never having availed of that incentive?
 
A first time buyer is a person, (or, where there is more than one buyer, each of such persons):

who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house (in Ireland or abroad) and

where the property purchased is occupied by the purchaser, or a person on his behalf, as his/her only or principal place of residence and

where no rent, other than rent under the rent-a-room-scheme, is derived from the property for five years after the date of the current purchase.
 
So basically, if I am reading this right, a FTB is someone who has never owned their own property anywhere in the world and are purchasing their own home in Ireland for the very first time? Just out of curiosity how far would this be checked? For example, if someone lived abroad for a length of time then moved back, would Revenue (or whatever body is responsible for overseeing FTB allowances) check with that former PPR that the person has never owned their any property in that country?
 
LouthLass said:
So basically, if I am reading this right, a FTB is someone who has never owned their own property anywhere in the world and are purchasing their own home in Ireland for the very first time? Just out of curiosity how far would this be checked? For example, if someone lived abroad for a length of time then moved back, would Revenue (or whatever body is responsible for overseeing FTB allowances) check with that former PPR that the person has never owned their any property in that country?
Click to expand...

Correct with regards to Stamp Duty, however, for mortgage tax relief, then your first property in the State, which you occupy as owner occupier does quality for FTB tax relief.

The very obvious "check" would be to ask where any deposit came from, and possible to prove how you came about the deposit. Equally obvious is the fact that your solicitor will ask if you are a FTB, and I would of course answer that question honestly.

I don't know how the relevant authorities would go about "checking", but if they did, say in the future, have an arrangement with, for example, the UK Land Registry, or its equivalent in any other country you care to mention, then any fraudulent claims of FTB status could come to light, and this "checking" could be backdated.

BC
 
Your solicitor is the one who physically pays over the Stamp Duty where applicable. I can't imagine that any solicitor will be willing to risk their livelihood by fraudulently treating someone as a First Time Buyer.

Surely it's becoming increasingly obvious to more and more people that while Revenue may not check compliance now, or even have systems to do so now, they have plenty of power to do retrospective checks in years to come. Today - offshore accounts from 20 years ago. Tomorrow - who knows?
 
i bought a house in ireland 3 years ago that I am living in now. I have owned and sold a house in the uk before. because of this I didnt claim FTB status for TRS, but just saw it in a post above that as I didnt live in the state I can claim this...can I claim for this now and back claim? I didnt think I could so just didnt do it.
Stamp duty wasnt an issue as I bought a new build that was exempt.
 
If you owed them then it would be back-dated!!!
I'd say yes, you can claim the relief. Get your paperwork in order and go have a chat and chances are you'll get whats owed to you.
 
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