Cool - so that means i'll pay 4k SD on the site and thats the end of it?
Thanks for your help.
So my self build ill be paying 8% site value €120,000. €9,600 no help for us poor self builders.
They would obviously rather keep the existing system which encourages people to commit fraud
Removing a price limit benefits super-rich ftbs unfairly, the average FTB might be looking at 300-500.
Well, if that's the case, can you explain why there was no limit imposed?? It's absolutely stupid not to have a limit imo - if as you say only a small % of FTB's pay more than 317K anyway, what was to stop them putting a limit say, 50% above that, like 450K for example.And how many houses are worth 1m? Not many in the country as a whole. How many will be bought by FTBs? A fraction. Between 5 and 8% of FTBs in 2006 were above the 317 threshold. That's before you even go up to crazy figures like 1 mill.
Well, if that's the case, can you explain why there was no limit imposed?? It's absolutely stupid not to have a limit imo - if as you say only a small % of FTB's pay more than 317K anyway, what was to stop them putting a limit say, 50% above that, like 450K for example.
It's just another example of shoddy ill thought legislation introduced by a man I used to think was quite competent.
I think there's a danger that some potential FTBs will not want to waste their stamp duty exemption to purchase a starter home. Many FTBs were previously buying with the exception of trading up in the near future as these were the only properties they could afford. Having FTB status has suddenly become a lot more valuable though! Some FTBs could be tempted to continue holding onto this status, and rent in the meantime, until they come across the house that they see themselves living the rest of their lives in.How is it a side effect that average FTBs stay out of the market?
This sounds illegal to me. Since the buyer of the apartment would have a beneficial interest in the purchase of the house, Revenue would not give FTB status for the purchase of the house. Declaring otherwise would be tax evasion.If a married couple wants to buy a house in one name to be a FTB (for let's say the first apartment in one name and then the first house later in the other name) how is that fraud. It's not illegal. It's called common sense and avoiding paying tax.
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