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Stamp Duty

Stamp duty in Ireland is a tax payable to the government based on the documents used in the transfer of property. (In other words, the conveyance document which transfers ownership to you). The value of the property (i.e. home or apartment, land or housing site) will determine the amount of stamp duty that is payable.

Stamp duty is also payable on land/housing sites without residential buildings. Where your agreement to buy a site is linked to a construction contract, stamp duty may be payable on the full amount of the site plus the construction contract.

Rates of Stamp Duty for Residential Property (New & Second Hand Homes)

The rates of duty applicable for residential property (whether new or second hand) are as follows:

  • A flat rate of 1% stamp duty on all residential property deals up to €1m, with 2% on deals above €1m.

Non-residential property

Non-residential property includes all types of property other than residential property, stocks or marketable securities and policies of insurance or life insurance.

Example 1

  • Commercial unit
  • Consideration: €90,000
  • Stamp duty payable: €1,800
  • [€90,000 @ 2%]

Purchase of a site

Where an individual purchases a site with no connected agreement to build a house or apartment, the transfer of the site is chargeable at the appropriate rate for non- residential property.

Example 2

  • Site
  • Consideration: €50,000
  • Stamp duty payable: €1,000
  • [€50,000 @ 2%]

Where an individual purchases a site in connection with, or as part of, an arrangement to build a house or apartment on that site then stamp duty will be charged on the aggregate amount of the site cost and the building cost at the appropriate residential property rate.

Example 3

  • Site with connected building agreement for a house or apartment
  • Site cost €50,000
  • Building cost €165,000
  • Aggregate cost: €215,000
  • Stamp duty payable: €2,150
  • [€215,000 @ 1%]

Mixed property

Where a transaction relates to a mixed property, the consideration must be apportioned between the residential and non-residential elements. The residential property is not aggregated with the non-residential portion for the purposes of determining the appropriate rate of stamp duty.

the Apportionment form, available on the Revenue website.

Example

  • Shop with connected apartment
  • Consideration: €1,200,000
  • Apportioned: Shop = €900,000 + Apartment = €300,000
  • Stamp duty payable: €21,000
  • [(€900,000 @ 2%) + (€300,000 @ 1%)]