B2(i). Large New House/Apartment (Floor Area exceeding 125 sq.m) with Site Contract & Building Agreement for a house/apartment with a Certificate that complies with Section 92(1)(b)(ia) (See **Note below)
First-time purchasers, as Owner/Occupiers, of new (greater than 125sq m) and second-hand houses/apartments will be eligible for stamp duty exemption for all instruments dated on or after the 31st March 2007.
First Time Buyer (Owner Occupier) Stamp Duty - Rates 1
The chargeable consideration is the greater of - the VAT exclusive consideration paid for the site or 25% of the total VAT exclusive consideration (as provided for by Section 48/56, Stamp Duties Consolidation Act, 1999).
For instruments dated on or after 2nd December 2004 and before 31st March 2007 Stamp Duty is calculated at the appropriate rate where the amount exceeds €317,500.
VAT is calculated at 13.5% from 1st January 2003.
As your client is an Owner Occupier, please read the important section on clawback.
Example: Relief for Owner Occupier who is also a First Time Buyer prior to 31st March 2007
Instrument -
Conveyance
Lease
**Note: The Floor Area Compliance Certificate (relating to the floor area size of the property only) in respect of the property must exist and be signed by a qualified architect, engineer or surveyor. If this Certificate has not issued in respect of the property at the date of execution of the instrument then the relief does not apply.