Stamp Duty - Honestly its my "First time"

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daveymacd

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If an individual buys a property as an investor soley, with this being their first purchase and they never live in it, have they now lost their First time buyers stamp duty reduction/exemption the first time they buy their own home?

I feel that they probably have lost it as the FAQ on then Revenue site say that purchase a property at home or abroad removes you from this bracket although is this a particular case that could be an exception to that?

Cheers
 
Think of it this way: if someone asks you "have you ever bought a property before?" The answer is yes for you, so the exemption no longer applies.
 
Thanks for the helpful and non-condescending advice.

I was simply checking if there was a provision in the Stamp Duty law for those who had purchased solely for investment before acquiring a Private residence as in the vast majority of cases an investment purchase would be be after you secured your primary residence.
 
Think of it this way - if that was the system and if such an exemption existed would'nt everybody buy property "as an investment" initially and subsequently occupying it as their PPR thus avoiding any tax?
 
Not really Marie as you get absolutely nailed with Stamp Duty Tax on an investment (as I have already paid). It is in fact better to buy as a FTB but I thought that the Revenue might have a provision for those who happen to do what I did as a lot of young people like me cant afford to pay their mortgage just yet but dont want to waste a good opportunity if it comes along.

Lobby, maybe I should just say what you said:

"Nah, I understood fairly much the situation before asking, and just wanted to clarify. I suppose I was hoping that if there wasn't a logical justification then maybe I was wrong!

But then again, logic and the revenue don't always go hand in hand."

That pretty much covers my sentiments here
 
At the risk of sounding rude ;), there's no "option to buy as a FTB" - you either are a first time buyer or you aren't. It's not something you can elect to be.

Actually, it reminds me of a good suggestion I heard similar to what you hope the situation would be: that every citizen is given one "certificate of exemption" that they can use once in their lifetime to exempt themselves from stamp duty instead of this FTB situation.
 
Yes - if you have bought a property abroad (whether for investment or as a PPR) you are not a 'first time buyer'. Many people who have bought overseas are not yet aware of this.
 
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