Stamp Duty Reforms
Bobby Aylward says Fianna Fail is the only Party which is offering Stamp Duty reforms which provide certainty and stability for the property market and give a priority to first-time buyers.
“The choice facing the people is now abundantly clear. Fianna Fail’s proposals mean that any first-time buyer can sign a housing contract knowing that the relief will be delivered”, Fianna Fail candidate in Carlow – Kilkenny, Bobby Aylward said.
Bobby Aylward also pointed out that Fianna Fail’s proposals deliver benefits to those who bought houses in the last seven years and they ensure that cuts in tax rates do not impact on the benefit people get from current reliefs.
“Fianna Fail will implement a three-pronged approach. We are committed to abolishing Stamp Duty for first-time buyers and we will make it retrospective to 30 April last. In addition, we will increase the ceiling of mortgage interest relief for first-time buyers from E 8,000 to E 10,000 for single people and from E 16,000 to E 20,000 for couples or widowed people. This will be backdated seven years and will apply to all first-time buyers who bought a house from 2000 onwards. This will be done in Budget 2008. As income taxes are reduced, we will keep the rate for mortgage interest at 20% for all home owners”, Bobby Aylward confirmed.
“Our approach is good for certainty, it is good for affordability, it is good for society, and it is good for the economy as a whole. These changes will help young people and families to purchase their first home, it will help them to meet the repayments and it will ensure that the mortgage interest burden does not rise as a result of future income tax changes. And these measures will not destabilise the market”, Bobby Aylward concluded.
ENDS.
5 May, 2007
May 22nd, 2007 at 10:56 am
Bobby you by far the most qualified candidate in Carlow Kilkenny and Fianna Fail is the only party that will lead this country into economic success for the future. You have my number 1.