Minister for Finance Paschal Donohoe in today’s budget has announced that the rate of stamp duty that will apply to non-residential property/commercial properties will increase by 1.5 per cent to 7.5 per cent.
This jump in stamp duty will come into force from midnight tonight. There is no change in the rate of stamp duty on residential property. Residential property includes houses, duplex and apartments.
Rate 1% – Up to €1,000,000
Rate 2% -€1,000,000 plus