The Bill gives effect to the Budget measures which reduce the rate of stamp duty on transfers of non-residential property to 2% with effect from 7 December 2011. The flat 2% rate applies to other stampable items such as goodwill, loans and other property to the extent that these are not already covered by other exemptions.

The exemption from Stamp Duty on transfers under €10,000 is abolished subject to transitional measures which will apply until 1 July 2012.

Consanguinity relief on transfers of non-residential property will no longer apply from 1 January 2015.