|
|
Amendment of section 92B (residential property first time purchaser relief) of Principal Act.
|
126.—(1) Section 92B of the Principal Act is amended—
|
|
| |
(a) by substituting the following for subsection (2):
|
|
| |
“(2) The amount of stamp duty chargeable under or by reference to paragraphs (2) to (6) of the Heading ‘CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance’ or clauses (ii) to (vi) of paragraph (3)(a) of the Heading ‘LEASE’, as the case may be, in Schedule 1 on any instrument to which this section applies shall be reduced, where paragraphs (2) to (4) of the first-mentioned Heading or clauses (ii) to (iv) of the said paragraph (3)(a) apply, to nil, and where—
|
|
| |
(a) paragraph (5) of the first-mentioned Heading or clause (v) of the said paragraph (3)(a) applies, to an amount equal to one half,
|
|
| |
(b) paragraph (6) of the first-mentioned Heading or clause (vi) of the said paragraph (3)(a) applies, to an amount equal to twelvefifteenths,
|
|
| |
of the amount which would otherwise have been chargeable but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”,
|
|
| |
(b) in subsection (3)(b) by substituting “any instrument, to which neither section 92 nor subsection (3A) applies, which contains a statement, in such form as the Commissioners may specify, certifying that subsection (3A) does not apply,” for “any instrument, other than one to which section 92 applies, which contains a statement, in such form as the Commissioners may specify, certifying”, and
|
|
| |
(c) by inserting the following subsection after subsection (3):
|
|
| |
“(3A) This subsection applies to an instrument—
|
|
| |
(a) which gives effect to the purchase of a dwellinghouse or apartment on the erection of the dwellinghouse or apartment, or
|
|
| |
(b) to which section 29 or 53 applies,
|
|
| |
where the total floor area of that dwellinghouse or apartment—
|
|
| |
(i) does not, or will not, exceed 125 square metres, and
|
|
| |
(ii) is not, or will not, be less than 38 square metres,
|
|
| |
as measured in the manner specified in regulations made by the Minister for the Environment, Heritage and Local Government for the purposes of section 91A.”.
|
|
| |
(2) (a) Paragraph (a) of subsection (1) applies as respects instruments executed on or after 2 December 2004.
|
|
| |
(b) Paragraphs (b) and (c) of subsection (1) apply as respects instruments executed on or after 1 March 2005.
|
