Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Stamp Duty on land transfer. Is it only 3%?

  • 06-03-2018 5:26pm
    #1
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 513 ✭✭✭


    I've been gifted a small parcel of land that isn't valued very much from a parent (about €5,250) and stamp duty on it is apparently only 3%.

    Is that right? I thought stamp duty was supposed to be 6%?

    The land has no residential zoning on it.



    .


Comments

  • #2
    arrowman
    Registered Users, Registered Users 2 Posts: 124 ✭✭arrowman


    If you qualify for Consanguinity Relief the rate should be 1% - see here
    https://www.revenue.ie/en/property/stamp-duty/working-out-your-stamp-duty/consanguinity-relief.aspx

    There seems to be a lot of confusion about this as the way this relief operated in the past was that it was half the relevant rate of the stamp duty.
    But since the change announced in the Budget last October if Consanguinity Relief applies the rate drops to 1%

    You can buy me a pint out the €100 or so I've saved you there :D


  • #3
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 513 ✭✭✭St1mpMeister


    arrowman wrote: »
    If you qualify for Consanguinity Relief the rate should be 1% - see here
    https://www.revenue.ie/en/property/stamp-duty/working-out-your-stamp-duty/consanguinity-relief.aspx

    There seems to be a lot of confusion about this as the way this relief operated in the past was that it was half the relevant rate of the stamp duty.
    But since the change announced in the Budget last October if Consanguinity Relief applies the rate drops to 1%

    You can buy me a pint out the €100 or so I've saved you there :D

    Hmm from what I can make out on that page you need to be farming the land, or leasing it out to get the 1%.

    Also the person giving the land has to be under 67 or am I reading that wrong :confused:


    I won't be farming the land/leasing it... and the person giving it is 80, so I guess I don't qualify for 1% ?

    Is it then supposed to be 3% stamp duty? I can't find info about the correct rate anywhere.


  • #4
    arrowman
    Registered Users, Registered Users 2 Posts: 124 ✭✭arrowman


    No the upper age limit of 67 was also removed in the budget so your 80 year old father is OK

    You say you wont be farming it or leasing it - is it a house site - if so then the rate may be 6% as it is not going to be used for agriculture. If your father will continue to farm the land then you could lease it to him for the six years to qualify for the relief.


  • #5
    St1mpMeister
    Registered Users, Registered Users 2 Posts: 513 ✭✭✭St1mpMeister


    arrowman wrote: »
    No the upper age limit of 67 was also removed in the budget so your 80 year old father is OK

    You say you wont be farming it or leasing it - is it a house site - if so then the rate may be 6% as it is not going to be used for agriculture. If your father will continue to farm the land then you could lease it to him for the six years to qualify for the relief.

    Nope, land will just remain unused for next year anyway until I get time to decide what to do with it

    Might plant trees

    So the stamp duty is 1% or 6% right? Not sure why we were told it was 3%


Advertisement