Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I intend to bring forward amendments to this section on Report Stage to provide for a stamp duty refund scheme for commercial land purchases for the development of housing in view of the housing supply challenge facing the country. I referenced the scheme on the night of the budget. The refund will be subject to certain conditions, including a requirement that developers commence developments within 30 months of the land purchase. This is consistent with one of the objectives of the stamp duty rate increase, to achieve a rebalancing of activity from non-residential commercial construction activity in favour of residential activity. I will also be presenting an amendment on Report Stage designed to provide for certain anti-avoidance measures in connection with the upward adjustment to the rate of stamp duty on non-residential property.

I did not attend the EGM last week but an official of my Department did.