This is in an effort to stimulate recovery in the property market, something we are all eagerly awaiting. Whether these provisions will have any effect at all unless the banks start lending is another matter.
A significant matter, however, is the raising of the threshold for payment of the Universal Social Charge - the dreaded USC- from €4,004 to €10,036. This will remove 330,000 people from liability for this draconian charge.
The Mininster said that the "Finance Bill is a further step towards econimic recovery and regaining our fiscal automony. The achievement of these objectives will take time but we are making good progress in implementing our Programme for Government"
Lets hope it works!
Mortgage Interest Relief in Finance Bill
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The Minister for Finance has today announced that people who bought houses for the first time between 2004 and 2008 can avail of mortgage interest relief at 30%.
People buying for the first time in 2012 will get relief at 25% and non first time buyers this year will get relief at 15%.
People buying for the first time in 2012 will get relief at 25% and non first time buyers this year will get relief at 15%.
Published in
house purchase
