Stamp Duty
Property
Conveyances/Transfers/Assignments of Non-Residential Lands and Buildings etc.
Rates of Stamp Duty for Residential Property
New Homes
Conveyances/Transfers of Stock/Marketable Securities
Gifts
Leases
Rent
Main Exemptions/Reliefs
Financial Cards
Companies Capital Duty
Property
A range of rates apply in Ireland to instruments effecting the conveyance of real property, depending on the type of property (residential or non-residential), the value of the property and the status of the purchaser. These have effect for transactions generally taking place on or after 6 December 2001.
Conveyances/Transfers/Assignments of Non-Residential Lands and Buildings etc.
| Aggregate consideration |
Rates of duty non-residential |
| Does not exceed €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% |
|
|
|
Rates of Stamp Duty for Residential Property
The current Stamp Duty system has been reformed to introduce an exemption of €125,000 and two progressive rates. The portion of the consideration over the relevant threshold will be liable to stamp duty at the relevant rate.
| Amount (€) |
|
First-time buyer |
Other owner-occupiers |
| Up to 125,000 |
|
Exempt |
Nil |
| €125,001 - €1,000,000 |
|
Exempt |
7% |
| Balance over €1,000,000 |
|
Exempt |
9% |
*special valuation rules apply to the purchase of new properties over 125 square metres by owner-occupiers, which reduces the liability.
New Homes
First-time buyers who are owner-occupiers will continue to be exempt from stamp duty on new residential property with a floor area of up to 125 square metres. Partial relief applies to such buyers where the floor area of the property exceeds 125 square metres.
Conveyances/Transfers of Stocks/Marketable Securities
Duty is 1% of the consideration paid for shares/marketable securities. Where a computation of the 1% duty falls under €1, a minimum duty of €1 is payable in respect of instruments executed on or after 6 February 2003.
Gifts
Where property is transferred as a gift or for less than full value, stamp duty is charged on the market value of the property at the appropriate rate.
Leases
Duty is payable on both the rent and the premium
Rent
| Rent |
Rate of duty |
| Lease of a house or apartment for a term that is indefinite or does not exceed 35 years and where the rent does not exceed €19,050 per year |
Exempt |
| In all other cases where the lease is for a term: |
| That is indefinite or does not exceed 35 years |
1% of the average annual rent |
| That exceeds 35 years but does not exceed 100 years |
6% of average annual rent |
| That exceeds 100 years |
12% of the average annual rent |
Main Exemptions/Reliefs
Transfer of property between spouses is exempt. The exemption also applies to property transferred between divorced couples on foot of certain orders made by the Irish Courts. The following types of transfers are also exempted :
·Company reconstructions and amalgamations
·Certain financial instruments
·Commercial woodlands – duty not chargeable on the value of the trees growing on the land
With regard to consanguinity relief that applies to the transfers of land, buildings etc. to certain relatives, half the normal rate of stamp duty applies but not in relation to leases.
Financial Cards
Budget 20098 reduced the stamp duty applicable to credit cards, charge cards, ATM cards and Laser cards.
Companies Capital Duty
Finance Act 2006 abolished companies capital duty on the issuing of share capital for transactions effected on or after 7 December 2005.