€3.2m in duty relief clawed back from first-time buyers

First-time buyers are being forced to pay back millions of euro in stamp-duty relief for breaking rules on letting part or all of their newly-purchased properties.

The Labour Party says figures it has obtained from the Revenue Commissioners show that 392 buyers have had to pay €3.2m in tax between April and November for breaching the regulations on lettings.

Labour spokesperson Joan Burton says the high figure would seem to indicate that many buyers are unaware that they are not entitled to stamp-duty relief if they make more than €6,000 a year in rental income.