Budget 2004 re. credit cards

[decembersally]

Can anyone tell me what Brian Cowen did in relation to credit cards last December in the budget. Didn't he eliminate the stamp duty if you're swopping cards within an organisation?

 

[daltonr]

He Apparently Removed the Double Taxation if you switch Cards. It doesn't have to be within the same provider.

So if you change cards during the year you'll only pay stamp duty once. I presume you'll pay twice if you hold multiple cards at the same time.

I think I remember at the time that it wasn't clear how he would do this. I haven't heard anything about it since.

It might be worth checking with your CC company. I suspect they are the ones being left with the chore of figuring it all out.

-Rd

 

[Monsieur Bond]

He Apparently Removed the Double Taxation if you switch Cards. It doesn't have to be within the same provider.

So if you change cards during the year you'll only pay stamp duty once. I presume you'll pay twice if you hold multiple cards at the same time.

I think I remember at the time that it wasn't clear how he would do this. I haven't heard anything about it since.

According to the Sunday Business Post at the weekend, the procedures around this will not be announced until February at the earliest.

So, while you can change your Bank from Jan 31st and ask them to move your direct debits for you - they have to move them all in a week or THEY are liable for any charges for missed DDs - it is not really worth changing banks (IMHO) until the double stamp duty issue is fully resolved and agreed by the institutions. So AIB and BOI can rest easy for another month or two.