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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 3:54 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
Irish domestic sector will apparently be the "engine" to drive the economy in the future.

Uhh, good luck with that!
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txirimiri
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 3:55 pm 
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Planning Tribunal Attendee

Joined: Jun 18, 2010
Posts: 1054
Location: The dodgy bit of Dublin 8
Is the proposed Foreign Earnings Deduction allowable for the company of the individual? Who has to spend 60 days in the BRICs? He's lost me on this one ...


Last edited by txirimiri on Tue Dec 06, 2011 3:57 pm, edited 1 time in total.

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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 3:56 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
Stamp duty reduced on commercial property.
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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:01 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
Stimulus for the property sector.

Commerical stamp duty going from 6% to 2%.
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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:02 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
More property stimulus!

Buy a gaff between now and 2013, hold it for 7 years and pay NO CGT.
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Homeboy
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:03 pm 
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Planning Tribunal Attendee

Joined: Jun 5, 2008
Posts: 1408
No change to residential property.

Changes to capital gains to encourage property purchase.

Hey - that cgt change will encourage INVESTORS into the market.........friggin' hell what about those of us who want a ROOF over their head!!!!!

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Get your prescription medicines dispensed in ................ NORTHERN Ireland.

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slasher
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:04 pm 
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Too Big to Fail

Joined: Sep 29, 2010
Posts: 4390
Location: London, innit
HouseBuyer wrote:
More property stimulus!

Buy a gaff between now and 2013, hold it for 7 years and pay NO CGT.


'cos there'll be f all Capita Gain?
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txirimiri
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:05 pm 
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Planning Tribunal Attendee

Joined: Jun 18, 2010
Posts: 1054
Location: The dodgy bit of Dublin 8
That's only a stimulus if you believe that property will inevitably be more expensive in 2020 than in 2013 ....
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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:05 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
If you bought a home between 2004 to 2008 you now get 30% mortgage interest rate relief.

Buy a home now until 2012 and get 25% mortgage interest relief instead of 15%.

I am shocked, this is a massive property binge!
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monkeywrench
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:06 pm 
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Back Home with Mammy
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Joined: Jan 21, 2010
Posts: 60
Location: South East Asia
Buy Buy Buy. Its free money!!!!!!!!!!!

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Any idiot can face a crisis - it's day to day living that wears you out.
Anton Chekhov

You see in this world there's two kinds of people, my friend. Those with loaded guns, and those who dig. You dig. Clint Eastwood, The Good The Bad and The Ugly

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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:07 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
Small time Canny McSavvy will not have any BTL relief abolished (section 23, etc.).

Unbelievable.
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mr_anderson
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:08 pm 
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Of Systemic Importance

Joined: Oct 29, 2007
Posts: 7037
Location: Multiverse
HouseBuyer wrote:
If you bought a home between 2004 to 2008 you now get 30% mortgage interest rate relief.

Buy a home now until 2012 and get 25% mortgage interest relief instead of 15%.

I am shocked, this is a massive property binge!


At this point, it's always good to remember that investors enjoy 75% interest relief.
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obese_cat
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:10 pm 
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Real Estate Developer

Joined: Nov 26, 2008
Posts: 901
Well there's very little activity in residential property so a short term stimulus ain't such a bad idea... is it?

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The bust is getting bustier.....

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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:11 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
The two pillar banks are going to be forced to lend to SME's and people taking out mortgages.

More stimulus.

Deficit for this year is going to be 10.1% instead on 10.6%
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HouseBuyer
 Post subject: Re: Budget 2012
PostPosted: Tue Dec 06, 2011 4:12 pm 
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Too Big to Fail

Joined: Feb 8, 2007
Posts: 4736
obese_cat wrote:
Well there's very little activity in residential property so a short term stimulus ain't such a bad idea... is it?

If you were planning on buying now, it's great. If you still think property is overvalued, this could postpone the bottom by another year.
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