stamp duty - new inv property

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EAMONN66

Guest
i already know that in the case of a new house stamp duty is calculated on the price ex vat @13.5%. does this deduction also affect the excemption limit of 127000 mean that the real excemption limit is 144145 (127k +13.5%)

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EAMONN66

Guest
in case anyone is interested in this, ive confirmed it with the revenue.
for new houses, all stamp duty cutoff points and rates are based on the ex vat price

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dubinamerica

Guest
.

I'm purchasing a property (as an investor) for 145K.. so is the stamp duty calculated on the amount before VAT of 13.5% is added .. so 127,753 would be the amount used to calculate ?? that would leave me paying 3832 (127753 *3%) instead of 4350 (145000*3%).. does this sound right ? The way the house is being sold there's a contract for land and then construction.

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House price Rate of stamp duty
Up to 127,000 euro Exempt
127,001 euro - 190,500 euro 3%
190,501 euro - 254,000 euro 4%
254,001 euro - 317,500 euro 5%
317,501 euro - 381,000 euro 6%
381,001 euro - 635,000 euro 7.5%
Over 635,000 euro 9%

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EAMONN66

Guest
Re: .

buying the land in a seperate deal is the worst possible deal for you as stamp duty is then payable on a different (dearer) scale than a finished house and is unavoidable . if the new house is <= 144145 all in inc vat and is less than 125 sq metres it is exempt from duty. if it is larger than this here is the formula

New Properties larger than 125 sq. metres:
- The duty is payable on the greater of
(a) the site cost or
(b) 25% of the total cost (site cost + building costs)

if the greater of those is under 127,000 it is also exempt

bottom line is that both cheap small properties and large dear properties are exempt.