S.L. 123.203 Art. 3Relieffromtaxand from duty on documents and transfers. 

(1) Subject to the other provisions of these rules, no income tax and no duty on documents and transfers shall be payable on the first seven hundred and fifty thousand euro (€750,000) of the transfer value of any transfer to which rule 4 or rule 5 applies that is th made on or after 12 October 2021 but not later than 31st December

2026:

Provided that no relief from income tax and from duty on documents and transfers shall be allowed in terms of this rule where the transfer is made to a person who requires a permit by the Minister for the purposes of the Immovable Property (Acquisition by Non-Residents) Act or who would have required such permit had the property acquired not been situated in a special designated area: FROM DUTY ON DOCUMENTS AND TRANSFERS ON 123.203 CERTAIN PROPERTY TRANSFERS

Provided further that in the case of a transfer made on, or after 1st January 2025:

(a) no relief from income tax and from duty on documents and transfers shall be allowed in accordance with this rule if the property that is transferred consists of immovable property intended for the storage of goods or materials;

(b) when the property that is transferred consists of a garage, relief from income tax and from duty on documents and transfers in accordance with this rule shall be allowed only if that garage is transferred by means of the same deed together with residential property and to the same person to whom such residential property is transferred, and is a garage attached to or underlying that residential property or a garage situated in the same block of residential apartments of which that property forms part or a 2 garage of not more than thirty square metres (30m ) situated within five hundred metres (500m) of such residential property or block of apartments.

(2) The relief mentioned in sub-rule (1) shall be allowed only as long as all the parties entitled to it declare that they wish to claim the relief and the notary who publishes the deed makes a record of that declaration in the deed, and as long as the notice of the transfer referred to in article 51 of the Duty on Documents and Transfers Act is delivered to the Commissioner by not later than 31st January 2027.

(3) When the transfer value of a transfer referred to in sub-

rule (1) exceeds seven hundred and fifty thousand euro (€750,000), the income tax and the duty on documents and transfers on the excess shall be chargeable at the rates that apply in terms of the relevant provisions of the Income Tax Act and the Duty on Documents and Transfers Act, and for the purpose of determining the said rates that portion of the transfer value that is relieved from tax on income and from duty on documents and transfers in terms of these rules shall be deemed to constitute the first part of the transfer value.