|
Stamp Duty |
What is 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 (home or apartment, land or housing site) and your status (whether you are a first-time buyer, investor, etc.) 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. |
|
|
|
|
|
|
|
 |
| How much Stamp Duty will I have to pay? |
Depending on your status as a buyer and the type of property you are purchasing, stamp duty can form a considerable expense. The amount of stamp duty applicable to your purchase depends on several key factors:
- Status as a buyer (First time buyer, Owner-occupier or Investor)
- Property Type (Second-hand or New home)
- Floor Area (The size of the property)
return to the top
|
| What is my status as a buyer? |
First time buyers:
A first time buyer is a person who has not previously purchased or built a house or apartment anywhere in the world and who is purchasing the property for use as their main residence and not buying the property in order to rent it out as an investor.
Owner-occupiers:
An owner occupier is a person who purchases an apartment or house for use as their principal residence.
Investor:
A person buying a property as investment, examples include a second home, or purchasing a property in order to let it out.
return to the top
|
| I am a First Time buyer, how much Stamp Duty do I pay? |
First Time Buyers are fully exempt from Stamp Duty liability on all new and second hand homes.
return to the top
|
| I am an Owner-occupier buying a second hand home, how much Stamp Duty do I pay? |
Houses valued between €125,000 and €127,000 will not be liable for Stamp Duty. The following table indicates the current Stamp Duty liabilities.
| Value |
Rate % |
| €0 to €125,000 |
0% |
| €125,000 to €1,000,000 |
7% on excess above €125,000 |
over €1,000,000 |
9% on excess above €1,000,000, 7% between €125,000 and €1,000,000 |
return to the top
|
| I am an Owner-occupier buying a new home, how much Stamp Duty do I pay? |
If your new home is under 125 square metres then owner-occupiers are exempt from Stamp Duty. If your new home is over 125 square metres the normal rates apply. However, any owner occupier purchasing a new house for €600,000 or less has no stamp duty liability.
return to the top
|
| When is Stamp Duty payable? |
When closing the sale, your solicitor will calculate the exact stamp duty due and you will be required to pay this amount to the Revenue Commissioners. Your solicitor will usually arrange this payment.
return to the top
|
