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11-10-2016, 22:57   #61
68 lost souls
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The property price register quotes exclusive of VAT. ðŸ™
Yes I believe he is saying that it is not the property price register but the agreed purchase price as found in the contract which is inclusive of VAT
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11-10-2016, 23:28   #62
morrga
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Is it specified somewhere that you have to be married to be eligible?
http://www.revenue.ie/en/tax/it/reliefs/htb/index.html
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11-10-2016, 23:38   #63
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The Finance Bill will be published next week and will clarify details.

It only applies to new builds as it is designed as a stimulus to the construction industry to start building again.

It can't be backdated before 19 July as that would do nothing to stimulate the building of more new homes.

Last edited by athtrasna; 11-10-2016 at 23:54. Reason: Typo corrected
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11-10-2016, 23:44   #64
AtomicHorror
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My wife and I purchased a new build with a mortgage LTV of 90%. Taxes all in order for both applicants for the previous 4 years. Signed the Building Agreement in the last week of June, closed the sale in August. So am I right in thinking that we just missed out on this by less than a month?
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12-10-2016, 07:41   #65
brian2614
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This is my situation...

I bought my 1st house this year,new build @ €150K(obviously I don't live in Dublin) paid my deposit of €15K and signed after the 19 of July I think(waiting on solicitor to get back to me)

Is it from the moment you sign and get the keys in your hand or when the morgagte is drawn down

Am I entitled to this???

Thanks in advance
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12-10-2016, 09:14   #66
ted1
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Quote:
Originally Posted by athtrasna View Post
The Finance Bill will be published next week and will clarify details.

It only applies to new builds as it is designed as a stimulus to the construction industry to start building again.

It can't be backdated before 19 July as that would do nothing to stimulate the building of more new homes.
There is no VAT in a second hand home , so you can't get a VAT rebate. That's why it's only on a new build.
If it was available on second hand homes then it would be a grant/ subsidy and be a cost to the tax payers.
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12-10-2016, 09:16   #67
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So are we saying this scheme is basically targeting a minority who
a. Pay a lot in taxes
b. Only Build (not buy)
c. Fund 20% of the build
d. Mostly live in high income areas where property prices are already at a premium


Would I be wrong to say this is more like a Help-a-few-people-to-build scheme rather than help-to-buy scheme?
Yes you would be wrong.

it's not just for self builds , it's for people who buy a house in a development that is newly built.
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12-10-2016, 10:06   #68
asteroids over berlin
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guys, it is an initiative to encourage developers to build more homes as there is an argument going on where developers state the cost to build versus the profit/risk is too high and hence developers are not building in great numbers and some aren't building at all. The extra 20k is targeted to enhance the profit for developers. The government view is probably after 4 - 5 years there should be a lot more houses for everyone etc (should developers take up the plan etc) and houses become slightly more affordable, i don't use slightly lightly though!

i too, at first, thought it was to help first time buyers, whilst it may help a minority, the plan is to encourage development!
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12-10-2016, 10:09   #69
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I do not for the life of me understand why this is backdated..

Those people who have closed since Jul 2016 did so under the understanding the current rules and framework. Now they are to be handed upto 20k..

I get it going forward but retrospective.. I do not get how that is supposed to stimulate demand.
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12-10-2016, 10:14   #70
68 lost souls
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Originally Posted by lawred2 View Post
I do not for the life of me understand why this is backdated..

Those people who have closed since Jul 2016 did so under the understanding the current rules and framework. Now they are to be handed upto 20k..

I get it going forward but retrospective.. I do not get how that is supposed to stimulate demand.
The scheme was proposed on that date publicly and it was announced them that any measures in the budget would be back dated so people bought knowing those rules and framework
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12-10-2016, 10:17   #71
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The scheme was proposed on that date publicly and it was announced them that any measures in the budget would be back dated so people bought knowing those rules and framework
the details were not announced - only a vague plan. So no - people did not buy knowing the rules and framework.
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12-10-2016, 10:23   #72
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the details were not announced - only a vague plan. So no - people did not buy knowing the rules and framework.
They were told it would be back dated to then and knew that there would at least be some assistance.
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12-10-2016, 10:26   #73
ted1
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the details were not announced - only a vague plan. So no - people did not buy knowing the rules and framework.
It would have killed the market if they didn't say if they would back date it.

In the past there was a similar initiative planned and no houses closed between the announcement of a proposed scheme and the date it took affect
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12-10-2016, 10:28   #74
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Quote:
Originally Posted by lawred2 View Post
the details were not announced - only a vague plan. So no - people did not buy knowing the rules and framework.
It would have killed the market if they didn't say if they would back date it.

In the past there was a similar initiative planned and no houses closed between the announcement of a proposed scheme and the date it took affect
Fair point.

Don't announce it then. But then politicians need their photo shoots.
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12-10-2016, 10:59   #75
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Fair point.

Don't announce it then. But then politicians need their photo shoots.
Can also be useful to see if it's a useful approach from people other than those in government. Could be done behind the scenes but would probably end up being leaked anyway. Better to assume it would be leaked and just back date it when it comes to the stage too many people know about it.
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