Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Minister of State outlined in his statement some statistics that underpin his amendment. It is clear that there has been a significant increase in the number of people who availed of the exemption.

I believe there has been a greater awareness of it in recent times. There is no doubt it has been used as a tax-planning instrument in many cases. I know that Revenue raised the issue and some concerns about the dwelling house exemption in advance of the budget more than a year ago. The Government is now coming forward with these proposals. From what date will these changes take effect in respect of transactions? Obviously, people will be interested in that.