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Should a Property Tax replace stamp duty?

Should a Property Tax replace stamp duty?

Should a Property Tax replace stamp duty?At the height of the boom the Government was raking in more than €100 million a month in Residential Stamp Duty but since then Stamp Duty takings have dropped by 92% and now the Government would be lucky to see €100 million in the pot for the whole of 2010.

When combined, residential and non-residential stamp duty yields now account for just 0.6% of total tax revenues so it is no surprise that their attention is now once more turning to the possible introduction of a property tax. Property tax would provide a more stable (and hopefully a more reasonable) stream of revenue and allow us to move away from the unreliable transaction tax of Stamp duty.

However this new “fairer” property tax is no…

Should Estate Agents be more tightly regulated?

Should Estate Agents be more tightly regulated?

Should Estate Agents be more tightly regulated?According to a recent survey carried out by MyHome.ie four out of five people believe that estate agents should be more tightly regulated by the law. The survey which focused on buyers and sellers perception of estate agents also found that a third of respondents didn’t think estate agents were honest, while over half of those surveyed did not believe estate agent fees were reasonable.

However it was not all bad news for the agents as nine out of ten sellers said they had used or were using estate agents and felt the level of service justified the fee charged.

The Finance Director of MyHome.ie Ken O’Flaherty said it was clear people wanted more regulation in the property sector, ‘The irony of the situation is that the majority of estate agents fully support the need for more regulation in the industry…

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