Principal Private Residence

[BYG]

Can anyone define what this is ie. if you have a room in a house thats yours does it have to be a certian size and do you have to spend a certian number of nights there?

 

[CCOVICH]

if you have a room in a house thats yours does it have to be a certian size

I don't understand what you are saying???

Re. the amount of time you have to spend in the house:

From the [broken link removed]:

The exemption is also restricted where the taxpayer has not lived in the house for long periods.
However, a period of up to twelve months immediately before the end of the period of ownership is
treated as a period of occupation even though the owner may not have been actually living in it during
that period.

 

[BYG]

Well if i buy a house and rent it under the rent a room scheme can i sleep one night a month in the attic and still call it my Principal Private Residence and keep my reduced FTB stamp duty?

 

[CCOVICH]

Well if i buy a house and rent it under the rent a room scheme can i sleep one night a month in the attic and still call it my Principal Private Residence and keep my reduced FTB stamp duty?

I wouldn't have thought so-spending one night a month in the attic doesn't sound like you will be an owner occupier.

Where will your bills and bank statements be sent?

Where will you be living when you are not in the attic?

Either way, if you are renting out the entire house, as opposed to a room, then it looks like you will be liable for stamp duty. You income would have to be less than €7,250 p.a. as well.