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

I move amendment No. 95:

In page 100, line 3, to delete “subsection (2)” and substitute “subsection (3)”.

This amendment seeks to correct a cross-referencing error in section 56 of the Bill as published. The section increases the rate of stamp duty payable on transfers of non-residential property and lease premiums on such properties. Subsection (3) provides for transitional measures that retain the pre-budget lower rate of stamp duty for transferees or lessees who provide a statement certifying that they have entered into a binding contract for a transfer or lease before 9 October 2019 and completed the transfer or lease before 1 January 2020. The intention of subsection (4) was to impose a penalty where purchasers or lessees provided an incorrect statement for the purposes of availing of the transitional measures set out subsection (3). However, it incorrectly referred to subsection (2) instead of subsection (3), and subsection (4) is being amended to correct this error. I commend this amendment to the committee.