Stamp Duty Clawback

I have been living in my house for 2 and a half years, and have decided to purchase a new PPR with my boyf and rent out my current PPR, the house I purchased was only €127k at the time, does this mean that I do not have to pay stamp duty clawback and it is under the stamp duty threshold?
All what costs can I expect to pay to the Government in relation to letting ?

All advice gratefully appreciated.

Rosie07 said:

I have been living in my house for 2 and a half years, and have decided to purchase a new PPR with my boyf and rent out my current PPR, the house I purchased was only €127k at the time, does this mean that I do not have to pay stamp duty clawback and it is under the stamp duty threshold?

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At current rates of SD a property costing €127K would be exempt from SD even for investors. I think the same rates applied 2 years ago so it should mean that there is no liability under the SD clawback scheme. You should double check this to be sure though.

All what costs can I expect to pay to the Government in relation to letting ?

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See the Property Investment FAQ for a brief summary of the tax issues affecting rental properties. You should really only retain and rent the property if you have a clear financial plan - e.g. you have crunched the numbers and are sure that you can make money on rental income and/or capital appreciation. Don't do this blindly just because people seem to think that property investment is a "good thing". Especially since retaining the original property and buying a new PPR would presumably concentrate most or all of your means in a single asset class, risk/reward profile/geographic region (i.e. Irish residential property). I would also urge you to get independent, professional advice on the investment and tax issues involved.