What is the stampable amount?

Stamp duty is payable on a lifetime gift of property (known as a voluntary disposition inter vivos,) as if it were a conveyance on the sale of the property for an amount equivalent to the property’s open market value. This is the amount which, in the opinion of Revenue, the property would fetch if it were sold in the open market under conditions likely to obtain the best price for the vendor. If the amount is in a foreign currency, stamp duty is payable on the Euro equivalent according to the exchange rate prevailing on the day the instrument is executed.