owner occupier (Stamp duty question)

F

FTB_2008

Guest
Hi,

On the revenue website it states that 'New houses or apartments which are purchased by an owner occupier (including a first-time buyer) are exempt from stamp duty.' --> If the floor area is under 125sq m

So just to be perfectly clear on this. If you own a property abroad are you still exempt from all stamp duty over here as long as the house is new and under 125sq m and you actually live there (owner occupier). I know there is a limit to what rent you can take in but is there any penalty or would I liable for any stamp duty if I sell the house within 5 years.

Thanks.
 
Revenue website also says:

"Clawback A clawback arises if rent is obtained from the letting of the house or apartment within a period of 2 years from the date of the conveyance or transfer, other than under rent a room arrangements. The clawback amounts to the difference between the higher stamp duty rates and the duty paid and it becomes payable on the date that rent is first received from the property. A clawback will not arise where the property is sold to an unrelated third party during the 2-year period."

Doesn't this exactly answer your question? Suggest calling Revenue as they will have the exact answer if you have further questions. It's always better IMO to go to the horse's mouth. This websearch took me less than two minutes - the information on the Revenue website is generally excellent.

Sprite
 
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