CTG reduction on vacant properties will ‘free up housing supply’ – Davitt

Senator Aidan Davitt has called for a reduction in Capital Gains Tax on vacant properties as an effort to bring extra housing supply into the marketplace.

"In the last census, more than 180,000 vacant homes, excluding holiday homes, were recorded nationwide, said the Fianna Fáil senator.

"I believe we need to look at the vacant property issue and the potential it offers to increase housing supply.

"I have written to the Minister for Finance, Paschal Donohoe, to suggest reducing Capital Gains Tax on vacant properties for 12 months from 33pc to 10pc to bring extra housing supply into the marketplace.

"The minister has assured me that the issue is being examined and that my suggestion will be given due consideration by the government."