STAMP DUTY RATES FOR RESIDENTIAL PROPERTY SOLD IN THE REPUBLIC OF IRELAND. As of December 8th 2010, Stamp Duty on residential property has been fundamentally reformed and simplified. It has been reduced to a flat rate of 1% on properties values up to €1 million and 2% on any amounts over €1 million. There will no longer be a distinction between new versus second hand properties or first time and non-first time buyers. There are no changes to the commercial property stamp duty position, which is largely at a rate of 6%. Stamp duty on land remains unchanged.
Up to €1,000,000 is charged at 1%;
The excess over €1,000,000 is charged at 2%.
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Stamp Duty rates for commercial property sold in the Republic of Ireland:
Stamp Duty is charged at 6%
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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