These rates apply to all contracts executed on or after 5 December 2007 and to documents due to be presented for stamping no later than 5 December 2007.

First-time owner occupiers continue to be exempt from stamp duty.

The stamp duty rates for commercial property including land remains unchanged; residential development sites continue to be classed as non residential and continue in the main to attract 9% stamp duty.

OWNER OCCUPIER RELIEF

The period for which an owner-occupier must occupy a new home, on which he/she has been exempted from stamp duty as a first time buyer, before they can let the property has been reduced from 5 years to 2 years

TRANSFER OF SITE TO SON OR DAUGHTER

The exempt threshold for the transfer of a site to a son or daughter on or after 5 December 2007 has been raised from €254,000 to €500,000 for stamp duty and CGT purposes.

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The rates of stamp duty applicable to commercial property are different than those applied to residential property and the current rates are as set out below:

It should be noted that in leasing property stamp duty also arises. If the lease does not exceed 35 years or is indefinite stamp duty charges are at a rate of 1% of the average annual rent. If there is a rent review clause in the lease an additional fixed duty of €12.50 is payable

If a "premium" otherwise know as "key money" is paid for a lease, this is also liable to stamp duty.

Your Solicitor is best to advise in relation to actual stamp duty payable.