Stamp Duty - December Budget 2009

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Extract from article above 'As a result, it proposes stamp duty on residential property be zero-rated but that stamp duty should continue on investor related purchases.'

If stamp duty is scrapped in Decembers budget (for non-investors) does it come into effect immediately? Husband and I have sale agreed on a house at the moment and contemplating the possible implications of the article posted on rte today.

 

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The FF government who led us down the road to ruin will now tax to oblivion all those people who bloated their coffers with Stamp Duty/VAT on investor purchases in the first place, but once again their developer mates get looked after with the stamp duty exemption for first time buyers.

I wonder will the poor suckers who bought (and paid stamp duty) just before it went into meltdown have to now fork out for this property tax.

And still they don't tackle the core issues of over supply and waste and innefficiency in the public sector. Get your own house in order before taxing the private sector to death. I would have no problems with increased taxes if I KNEW it wasn't being squandered by politicians and civil servants on complete rubbish.

In anwer to your question OP. Normally tax reductions come into effect with teh new tax year (January 1st) and tax increases (fuel, cigarretes, booze) come into effect immediately after the budget is announced so probably (if the government even agrees to the commission's report) January.

They should have taxed people this way all along but they never had the guts to during the 'good times' lest they'd be voted out.