Our Stamp duty situation ..

Here's one guys,
Me and wife were FTB's on new house 5 years ago this May which now has <100 k euro remaining on mortgage .. Wife has received gift of site from father which we have received planning to build 109 sq.m house on .. Now .. I believe we are exempt from stamp duty under 125 sq m but would this apply to both site and finished house ?? .. Also can the boyz' claw back any SD on our first house ?? .. Just to add, we plan to rent out our first house in about a year when new one is finished ..
Can anybody throw some light on this one !!
Cheers ...

Salem said:

Also can the boyz' claw back any SD on our first house ?? .. Just to add, we plan to rent out our first house in about a year when new one is finished ..

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The SD clawback only applies if you rent out a property originally bought as an owner occupier PPR within five years of purchase. Otherwise it is not relevant. Since you bought your current PPR five years ago and will only be renting it in a year or so it looks like you are safe on this front. There will be rental income tax and CGT on some portion of any eventual resale gain implications though. See the Property Investment FAQ/forum for more on the normal tax treatment of investment properties.