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Changes to the tax treatment of property investment funds could come into effect at midnight

It's as a range of housing issues were discussed on KCLR Live earlier this morning

Changes to the tax treatment of property investment funds could come into effect at midnight with a possible late-night Dáil sitting on the cards.

Cabinet Ministers will hold a second meeting this evening to deal exclusively with the housing issue, rather than deal with a day of leaks and media speculation about sensitive tax changes for investment funds.

Finance Minister Paschal Donohoe is expected to propose changes to the stamp duty that funds pay on the purchase of property.

A budget-day style resolution may go before the Dáil tonight with a view to the changes taking effect at midnight.

Labour’s Finance Spokesman Ged Nash says the increase in stamp duty needs to be significant, noting “A 12% stamp duty charge on certain property transactions involving investment funds and at the higher level go potentially to 15%”.

While Social Democrats Spokesman Cian O’Callaghan says plans to reserve portions of new builds for owner-occupiers can’t just apply to houses over apartments, noting “Government policy’s been very strong in recent years promoting the idea of compact growth, higher density development and they’re now effectively saying ‘we support that’ but when it comes to homeownership we don’t support that at all in higher density development”.

A number of proposals will go before cabinet Ministers when they meet for a second time this evening.

Meanwhile, Castlecomer Municipal District meeting yesterday heard that the application process for local council housing is being changed (details here).

Earlier on KCLR Live our Eimear Ní Bhraonáin spoke to a number of people on the issues surrounding housing, including a Castlecomer 33-year-old man who’s been on the council list for 14 years, Kilkenny Green Councillor Maria Dollard and Senior Executive Officer for housing with Kilkenny County Council Michael Leahy.

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