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

25th October, 2020
Donohoe defends keeping tax break for one-off housing
Paschal Donohoe, Minister for Finance, made the decision not to abolish the stamp duty rebate scheme for one-off housing in Budget 2021. Photo: Julian Behal

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!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Construction of café and public toilets at Merrion Square to start this summer

Ronan has high hopes of London building bonanza

Building heavyweights call for early reopening of sector

Construction industry predicts growth of 15% this year