Donohoe defends keeping tax break for one-off housing
The Minister for Finance says he went against the Department of Housing’s advice as he didn’t want to stop any homes being built
Paschal Donohoe has defended his decision to maintain a tax break, averaging around €2,000, for one-off housing on the grounds that he did not want to discourage the construction of new homes.
The residential development tax break allows commercial developers and the owners of one-off housing sites to pay stamp duty at 2 per cent, rather than the 7.5 per cent that applies generally.
The Department of Housing had suggested in the run-up to Budget 2021 that...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Top Labour MP heaps more pressure on Ballymore over cladding costs
Irish construction firm says it is ‘fully committed to supporting our leaseholders’, but British prime minister Boris Johnson has called it “too slow” to act on the flammable cladding crisis
Sisk to pause introduction of alcohol and drug testing for union staff
Union accused construction firm of skirting industry-wide talks over the implementation of a policy for intoxicant testing
Against the grain: how crop prices are gaming the property market
Global commodity markets are in the midst of the heaviest bull run since 2013, and it’s not only affecting the agricultural sector: key players in the Irish construction industry are warning that new homes may soon be outside the reach of average first-time buyers