From Budget 2011, there is a flat rate of 1% on all residential property transactions up to a value of €1million with 2% applying to amounts above €1 million.
All existing Reliefs and Exemptions (as below) for Stamp Duty are abolished. That means 1% will be paid on all residential property sales, new or old.Abolished Reliefs and Exemptions:
- First time buyers relief
- Exemption for new houses under 125 sq m in size
- Relief on new houses over 125 sq m in size
- Consanguinity relief for residential property transfers
- Exemption for residential property transfers valued under €127,000
- Site to child relief.
|Up to € 10,000||Exempt|
|€10,001 - €20,000||1%|
|€20,001 - €30,000||2%|
|€30,001 - €40,000||3%|
|€40,001 - €70,000||4%|
|€70,001 - €80,000||5%|