Stamp Duty
Residential
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.
Commercial
Land/Commercial Buildings/Goodwill
| Consideration | |
|---|---|
| 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% |
| Over €80,000 | 6% |