Budget 2012 - Stamp Duty

Non-Residential Property

A new lower rate of 2% has been introduced for non-residential property. The single rate will apply to the entire amount of the consideration and the current exempt threshold of €10,000 has been abolished.

The new rate applies to instruments executed on or after 7 December 2011.

Transitional arrangements will apply where, as a result of the new rate, a taxpayer is disadvantaged compared to the stamp duty treatment applicable prior to 7 December 2011. The transitional arrangements will apply where an instrument is executed on or after 7 December 2011 and before 1 July 2012 solely in pursuance of a binding contract which had been entered into prior to 7 December 2011.

Consanguinity relief, which reduces the stamp duty liability by 50%, will cease to apply to non-residential property for instruments executed after 31 December 2014.