Is there stamp duty payable on car space?

P

Philomena

Guest
I'm buying an apartment in Dublin and the car space costs extra. Do I pay stamp duty on the space?
 
If apartment is say 350k and parking space is 20k.

Property transaction is 370k.

Stamp payable on 370k.

But are you a first time buyer, owner occupier, is it a new build?
Are you liable to stamp duty?
 
If the car park space is a seperate stanalone transaction and is valued under €127,000 then no stamp duty is payable.
 
mcaul said:
If the car park space is a seperate stanalone transaction and is valued under €127,000 then no stamp duty is payable.
Click to expand...

Actually, the stamp duty on land without residential buildings kicks in at €10,001. As a stand-alone transaction a €20k parking space would probably incur stamp duty at 1%.
 
I don't believe the Revenue Commissioners would view the transactions as separate transactions as both transactions would probably be viewed as being dependant on the other. (I recall something about a set of assets rule or somehting like that in Stamp Duty law). I think in this case you would be stuck with paying the tax as if this was one transaction.
 
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