1. What is the stamp duty payable on the purchase of a site and would the new rates apply?

No, the existing non residential stamp duty rates will still apply to buying a site, which is a rate of 9% on values of land in excess of €150,000

2. Could you tell me when the changes to stamp duty come into effect?

It will apply to instruments executed on of after 5 December 2007. If you have bought a house in the last 30 days then the new regime should also apply.

3. How can I find out how changes in the budget will effect my personal circumstances?

To calculate your personal rate of tax, click here to use the Ernst & Young online tax calculator.

4. Matthew and Kate are both from Ireland and are living abroad. They recently bought a site in Kate's home town in Co. Offaly. The purchase completed a fortnight ago and stamp duty of €5,100 at 6% of the purchase price of €85,000. They now want to know what effect the changes to stamp duty in the budget will have on them considering that they paid stamp duty only a week ago.

As Matthew and Kate bought the site which was not connected to a building agreement, they paid stamp duty at non-residential property rates which were not amended by the budget. If they had entered into a building agreement in connection with the purchase of the site they would have paid stamp duty at residential rates and would have been entitled to claim a refund of part of the stamp duty paid from the Revenue, if the deed was signed since 5th November 2007. As they bought a site unconnected to a building agreement and were charged non-residential rates of stamp duty, the budget changes have not effected the stamp duty payable in their situation.