on Certain Property Transfers (Amendment) Rules, 2024

L.N. 363 of 2024

INCOME TAX ACT

(CAP. 123)

DUTY ON DOCUMENTS AND TRANSFERS ACT

(CAP. 364)

Relief from Income Tax and from Duty on Documents and Transfers

on Certain Property Transfers (Amendment) Rules, 2024

IN EXERCISE of the powers conferred by articles 12(2) and 96

of the Income Tax Act and article 22A of the Duty on Documents and

Transfers Act, the Minister responsible for finance has made the

following rules:-

The title of these rules is the Relief from Income Tax and Citation.

from Duty on Documents and Transfers on Certain Property Transfers

(Amendment) Rules, 2024 and these rules shall be read and construed

as one with the Relief from Income Tax and from Duty on Documents S.L. 123.203.

and Transfers on Certain Property Transfers Rules, hereinafter referred S.L. 364.19.

to as the "principal rules".

Sub-rule (1) of rule 3 of the principal rules shall be Amends rule 3

of the principal

amended as follows:-

rules.

(a) the words "31st December 2024" shall be substituted

by the words "31st December 2025";

(b) in its proviso the words "in a special designated area."

shall be substituted by the words "in a special designated area:"

and immediately after there shall be added the following new

proviso

"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 garage of not more than thirty square metres

(30m 2 ) situated within five hundred metres (500m) of

such residential property or block of apartments.".

Rule 7 of the principal rules shall be amended as follows

(a) in sub-rule (1) thereof the words "31st December

2024" shall be substituted by the words "31st December 2025";

(b) in sub-rule (2) thereof the words "31st January 2025"

shall be substituted by the words "31st January 2026".

€0.18