Refunds of stamp duty paid on non-residential property which is later developed for residential purposes will no longer be available for construction projects commencing after 31 December 2022. Construction can commence by clearing a site, laying foundations, earth-moving, drainage and demolition of existing structures, but must commence only following a valid commencement notice or 7-day notice to be eligible for a stamp duty refund. Thirty months are permitted for completion of construction, starting on the date the local authority acknowledges a valid commencement notice or 7-day notice, so the latest date for completion of a development under the scheme is 30 June 2025.

Stamp duty refunds are available under the scheme at the difference between the previous 2% rate of stamp duty on non-residential property, and higher subsequent rates of 6% and 7.5% (as applicable). Where the 7.5% rate applies, the refund is 11/15 of the stamp duty paid. However, the refund is calculated in proportion to the area of the land being developed and is reduced where only a small part of a site is developed.

Where the relevant conditions are satisfied, single houses and multi-unit developments can avail of the refund scheme. For multi-unit developments, no less than 75% of the land must comprise dwelling units. Multi-unit developments built in separate phases are eligible for staggered refunds following commencement of the construction of each phase.

Refunds can be claimed up to four years from the date on which a local authority acknowledges a valid commencement notice or 7-day notice relating to the construction.