John Keane Auctioneer :: Property in Wexford

New Stamp Duty Rates for Residential Property Sold in the Republic of Ireland

The first €125,000 is exempt

The excess over €125,000 and up to €1,000,000 is charged at 7%

The excess over €1,000,000 is charged at 9%

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 to attract 9% stamp duty.

Owner Occupier Relief

The period for which 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 a 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.