Help-To-Buy scheme announced
- Daft.ie Insights
- Oct 11, 2016
- 1 min read
A number of initiatives which will impact the housing market were announced in Budget 2017 this afternoon.
Among those; a Help-To-Buy scheme was one of the most anticipated.
Under the scheme a 5% rebate will be provided on income taxes paid by First-Time Buyers of a newly built home, capped at €20,000. Houses purchased beyond €600,000 will attract no rebate.
Taxes on all inheritances will be reduced, especially from parents to children where the threshold for CAT will rise to €310,000.
In the rental market – the ceiling for the Rent-a-Room scheme has been increased by €2,000 and now stands at €14,000 compared to €12,000.
Landlords received a 5% increase in the amount of mortgage interest they can deduct. This will now stand at 80% in 2017, from 75% previously.
For more information – check out Budget.Gov.ie
To be honest, the €20,000 rebate sounds tempting for first-time buyers, but I wonder if it really changes things for people in Dublin? Anyway, before I dig deeper into this, I was just testing my setup - you know, doing an online mic test to check microphone responsiveness in browser, just like the page suggests for audio checks. Makes me wonder if they should add voice notes to these budget briefings.
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