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...

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