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

Currently, the definition of residential property leaves open the question of the part of the allowable acre that is to be valued. This is currently at variance with the treatment applied in relation to the capital gains tax exemption for the disposal of a person's principal private residence. That is under the Taxes Consolidation Act 1997 and the definition of residential property for stamp duty purposes. In these cases, the part of the acre to be exempted for capital gains tax or treated as a residential property for stamp duty is the part that is most suitable for occupation and enjoyment with the residence. The LPT treatment is now being changed to align it with the capital gains tax and stamp duty definitions. If it would be a help to the Deputy, I can send him a note in advance of the Bill being debated in the Dáil to explain this matter to him more fully.