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Selling house after a year - Stamp duty?

  • 03-03-2007 9:25am
    #1
    Lex Luthor
    Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭


    My brother bought a house last year (new) from a builder friend and has now decided to sell as his job is closer to Cork City and further out, so his commute is getting too long.

    He got it at a good price as he knew the builder so he could sell now and make about 65k from it.

    As it was new, he didn't pay any stamp duty but is there a clawback as he hasn't lived there that long?

    He plans to buy closer to the city so what are his options? Obviously his FTB status is now gone, so he will pay SD on a 2nd home, but will he pay on a new one?


Comments

  • #2
    Afuera
    Closed Accounts Posts: 619 ✭✭✭Afuera


    Lex Luthor wrote:
    As it was new, he didn't pay any stamp duty but is there a clawback as he hasn't lived there that long?
    Provided it was his PPR then there is no clawback. It doesn't matter how long he lived there.
    Lex Luthor wrote:
    He plans to buy closer to the city so what are his options? Obviously his FTB status is now gone, so he will pay SD on a 2nd home, but will he pay on a new one?
    If it's new and less than 125 metres squared then there is no SD.


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