What is the stamp duty between family members ?

M

mercman

Guest
Just seeking for an update on the stamp duty payable between parents and son or daughter in the case of property ??
 
Residential property
Aggregate Consideration Rate of Duty
First €1,000,000 1%
Excess over €1,000,000 2%

Non residential property
Instruments executed on or after 7 December 2011 - 2%

Consanguinity relief
This relief applies to transfers of non-residential property to certain relatives, e.g. parent, grandparent, step-parent, child, foster-child, adopted child, brother, sister, half-brother/sister, aunt, uncle, niece, nephew. Duty is charged at half the normal rate. This relief applies to transfers of non-residential property executed on or before 31 December 2014 and does not apply to leases or transfers of shares.

Finance Act 2011 confirmed that consanguinity relief would no longer apply to transfers of residential property with effect from 8 December 2010.
 
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