The Minister of Finance has in his Budget Speech for the year 2024 announced that:
- The scheme applicable for first time buyers and second time buyers will be extended for another year.
- No income tax and stamp duty will continue to apply on the first €750,000 of the value of the property transferred when such property:
(i) has been constructed more than 20 years ago and has been vacant for more than 7 years; or
(ii) is situated in an UCA.
- As from the year 2022, first time buyers who purchased a property will continue to benefit from a yearly grant of €1,000, for a period of 10 years.
- No income tax on capital gains and stamp duty will be charged on the first €200,000 of the value of the property in cases where the property is transferred to tenants who previously leased the same property for a number of years or paid subsidised rent, under a scheme administered by the Housing Authority.
- As from next year, the reduced rate of stamp duty on the acquisition of immovable property in Gozo will no longer apply.