Stamp Duty Costs

These stamp duty 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.

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.

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.