Skip to main content
Normal View

Tax Code

Dáil Éireann Debate, Tuesday - 1 June 2021

Tuesday, 1 June 2021

Questions (257)

Niall Collins


257. Deputy Niall Collins asked the Minister for Finance the stamp duty that will apply to a development (details supplied); and if he will make a statement on the matter. [29155/21]

View answer

Written answers (Question to Finance)

I am advised by Revenue that it is difficult to comment definitively on the stamp duty liability of individual transactions. The stamp duty liability that might arise in respect of a particular development would have regard to the particular facts and circumstances of each transaction. In addition, any potential stamp duty liability that might arise in the circumstances of the case in question would not appear to be directly relevant to the requester, so the issue of taxpayer confidentiality also arises for Revenue.

In relation to the recent Financial Resolution passed by the Dáil on May 19 last, I can confirm that a new higher rate of 10% stamp duty applies under section 31E of the Stamp Duties Consolidation Act 1999 in situations where 10 or more residential units, excluding apartments (as defined), but including duplex units and terraced town houses, are acquired in any 12-month period. For the purposes of section 31E, an apartment is defined as a residential unit in a multi-storey residential property that comprises, or will comprise, not less than 3 apartments with grouped or common access. It will be a question of fact in each case whether the residential units concerned come within this definition.

Stamp duty is payable by the purchaser or by a lessee in a long lease with a term of at least 35 years. While it is not clear who might be acquiring the residential units in question following their refurbishment, it should be noted that local authorities and certain approved housing bodies purchasing or leasing residential units are exempt from stamp duty so the threshold of 10 residential units would not be relevant to them.