Residential development stamp duty rebate scheme expires in Ireland | Walkers

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Refunds of stamp duty paid on non-residential property that is subsequently developed for residential use will no longer be available for construction projects commencing after December 31, 2022. Construction may begin with clearing a site, laying foundations, earthworks, drainage and demolition of existing structures, but must only commence after a valid Notice of Commencement or 7 days notice to be eligible for a stamp duty refund. Thirty months are allowed for completion of construction, counting from the date the local authority recognizes a valid notice to commence or 7 day notice, so the deadline for completion of a development under the program is June 30, 2025.

Stamp duty refunds are available under the scheme at the difference between the previous rate of 2% stamp duty on non-residential property and the later higher rates of 6% and 7.5% (as applicable). ). When the 7.5% rate applies, the refund is 11/15 of the stamp duty paid. However, the rebate is calculated in proportion to the area of ​​the land to be developed and is reduced when only a small part of the land is developed.

When the relevant conditions are met, single-family homes and multi-unit buildings can benefit from the reimbursement scheme. For multi-unit developments, at least 75% of the land must contain dwellings. Multi-unit developments built in separate phases are eligible for staggered repayments after each phase begins construction.

Refunds can be claimed for up to four years from the date a local authority recognizes a valid Commencement Notice or 7 Day Construction Notice.


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