Just one point here - while I know most people want to get on the property ladder quickly before property gets even more expensive I don't accept that they should then be able to go off travelling (even given that travelling will usually broaden the mind etc. and in the long run potentially make such people capable of making an even bigger contribution in overall terms to this country. Now that could be an interesting topic to start!) the world and not accept the responsibility they have taken on. As you say ubiqitous, why stop them having fun before they settle down? I think the point to remember is that by buying a house settling down is effectively what they have chosen to do when they chose to take on the responsibility of a mortgage and owning a property. If they cannot afford to travel as well as accept the tax burden incurred by leaving their prinicipal residence in order to do so, then maybe they should travel first and then settle down. Actually if the property market weren't so mad in Ireland I'd be inclined to argue this point very strongly but I do understand the desire to get a place of your own as soon as possible before being entirely priced out of the market. I don't know all the ins and outs of the Taxes Consolidation Act or the Finance Act etc but as so-called "gap-year" travelling (I think rarely actually done by students anymore, usually people who have worked a few years) is now so commonplace perhaps we need to have a change in tax law to allow for that. (Okay, one point, but it was a long one in the end, sorry for rambling folks).ubiquitous said:Hi Marie
By the way, you cite the issue of social justice. Where is the social justice in a young person, who has been enterprising and self-reliant enough to buy their own property, being subjected to huge tax and stamp duty penalties for having the audacity to travel around the world for 6 months or so? Do you really think that the Dept of Finance would have framed the law in order to punish these youngsters in this way - effectively prohibiting them from seeing the world and having a bit of harmless fun before they settle down? Unless we are back in the era of John Charles McQuaid, I cannot imagine that they would have done so.
PS Disclaimer: I can not afford to buy any property, nor can I afford to travel anymore (all of this my own fault through really bad financial management) so it's possible I may be a teeny bit prejudiced in my view of people who are doing both