Repayment of Stamp Duty under Affordable Dwelling Purchase Arrangements (S83DA)
Overview
The Stamp Duties Consolidation Act [SDCA] 1999 (Section 83DA) provides for the repayment of Stamp Duty paid on acquisitions of residential property. A right to repayment arises where a residential property is sold within 12 months for an Affordable Dwelling Purchase Arrangement.
An Affordable Dwelling Purchase Arrangement is entered into under the Affordable Housing Act 2021. It is a legal agreement or contract between the sales developer and the purchaser. It sets out the terms and conditions relating to the purchase of the property.
A repayment will apply irrespective of the rate of Stamp Duty paid. The residential rates are 1% or 2% on individual purchases and 10% on multiple purchases under Section 31E SDCA 1999.
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