Stamp Duty Reform - Operative Date
The Department of Finance has published further guidance on the effective date for the changes to Stamp Duty on residential property announced in the Budget.
In summary, as property transfers are required to be presented for stamping within 30 days of execution, any instruments executed on, or after, 5 November 2007 are covered by the changes.
Four different scenarios are considered:
- Transactions on or after Budget Day (5 December 2007), going forward.
- Instruments executed on, or after, Monday 5 November, but not yet stamped by Revenue.
- Instruments executed from Monday 5 November to Budget Day (both dates inclusive) and stamped by Revenue before, or on Budget Day.
- Instruments executed before Monday 5 November.
A copy of the Department of Finance note is reproduced at Section 2.05.