Commercial Property Stamp Duty Rates Budget 2009
Non-residential/commercial property is any property other than residential property, stocks or marketable securities or policies of insurance.
Non-residential property includes offices, sites, factories, shops, pubs, restuarants, factories, land and goodwill attached to a business.
From Budget 2009 the top rate of duty is being reduced from 9% to 6%. The new stamp duty rates applicable to non-residential (commercial) property are as follows:
Rate of Duty:
Up to €10,000: Exempt
€10,001 to €20,000: 1%
€20,001 to €30,000: 2%
€30,001 to €40,000: 3%
€40,001 to €70,000: 4%
€70,001 to €80,000: 5%
Over €80,000: 6%
It should also be noted that in the case of a commercial lease agreement, stamp duty also applies.
Your Solicitor can advise you on the exact rates applicable in your case.
Buget 2009 also outlined that the time limit for disposal of newly constructed commerical buildings that attract captial allowances is being extended from one to two years.