Stamp Duty claw back calculation

H

hakouna

Registered User
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Hi ,

I bought a property 18 months ago for 266K and it was my PPR since , now I am turning it to investment .
My undrestnading that I have to pay SD claw back for the max rate 7.5% of the purchase price since I lived in it less than 5 years .

My question is : Is it true to say that I have to pay 7.5% of the 266K as SD claw back no matter how long I have been living in my PPR before renting it out as long as it is less than 5 years ?

By other meaning , If I have lived in it 18 months or 4 years and half in both cases I will pay 7.5% of 266K ?

Appreciate your feedback
Hak.
 
The stamp duty rate is 5% or €13,300 and the clawback applies if you let the house within five years or purchasing - whether this is 18 months or 4.5 years is irrelevant.

Sarah

www.rea.ie
 
Thanks Sarah , your always helpfull with your replies .

Do you mind to tell me when I should pay the SD-CB ? IS there any "grace" period before penalties start to click off ?

Regards
Hak.
 
It is liable for the day you start renting the place. Interest is added on a daily rate for each day after that. There was a thread in the Property Investment scetion which gave detailed numbers for the interest rate charged "I think" it worked out at an annualised rate of 10%.

Have you also registered the property with the PRTB and notified your bank that you will no longer be eligable for TRS?
 
Thanks Howitzer ... I am planning to register with PRTB as soon as I move from this appartment .
 
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