Tag Archives: stamp duty changes

Week of January 23, 2012 on ILN Today – Roundup!

It’s time for another roundup here on a rainy Friday morning in New Jersey!

Once again we’re seeing some excellent content coming out of our member firms from around the world – I highly recommend checking out these articles and blog posts. I’m switching over entirely to a top 10 each week, so without further ado, here’s your roundup for this week!

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Stamp Duty Changes (21.2.2011)

By Audrey Healy, Partner, Property Department

Two rates of Stamp Duty now apply to Instruments/Deeds of Transfer/Conveyances/Assignments of Residential Property executed on or after the 8th of December 2010. The previous exempt threshold of €127,000 has been abolished. A new lower rate of 1% now applies where the purchase price does not exceed €1 million. A higher rate of 2% will apply to the excess of the price over €1 million.
In the case of a mixed property (residential and commercial) the consideration must be apportioned on a just and reasonable basis between the residential and the non residential elements of the property. Significant penalties/surcharges can apply if the apportionment is not just and reasonable.
Various reliefs and exemptions have been abolished with effect from the 8th of December 2010. They comprise the following:
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