Martin Mansergh (Tipperary South, Fianna Fail)

I move amendment No. 91:

In page 201, before section 61, to insert the following new section:

61.—(1) The Principal Act is amended by substituting the following for section 106B:

"106B.—(1) In this section 'housing authority' means—

(a) a housing authority, within the meaning of the Housing Acts 1966 to 2009, in connection with any of its functions under those Acts,

or

(b) the Affordable Homes Partnership established under article 4(1) of the Affordable Homes Partnership (Establishment) Order 2005 (S.I. No. 383 of 2005) in connection with the services specified in article 4(2) of that Order, as amended by the Affordable Homes Partnership (Establishment) Order 2005 (Amendment) Order 2007 (S.I. No. 293 of 2007).

(2) Stamp duty shall not be chargeable on any instrument giving effect to the conveyance, transfer or lease of a house, building or land to a housing

authority.

(3) Stamp duty on any instrument giving effect to the conveyance, transfer or lease of a house, building or land by a housing authority chargeable, as specified in Schedule 1, shall not exceed €100.".

(2) This section applies to an instrument executed on or after 1 April 2011.".

This amendment inserts a new section 61 and substitutes a new section 106B in the Stamp Duties Consolidation Act. Section 106B implies a stamp duty exemption on a conveyance of property by or to a housing authority or the Affordable Homes Partnership. There is no requirement to present the instrument to the Revenue Commissioners and as such there is no record of the transaction in Revenue's e-stamping system.

This would affect the collection of data for compiling house valuations both for the purposes of publishing a valuation database, to bring greater transparency to the housing market, and for the introduction of a site value tax, as proposed in the national recovery plan. On the other hand, applying a full stamp duty charge to such transfers could reduce the take-up of the enhanced tenant purchase scheme for local authority tenants which the Minister announced in the budget.

To meet these competing concerns, this amendment removes the stamp duty exemption in so far as this relates to a conveyance of property by the local authority or the Affordable Homes Partnership. Accordingly, such transfers will have to be presented to Revenue for stamping and details of the consideration will be recorded. However, the stamp duty payable will be limited to a maximum amount of €100 and such a low level of duty is unlikely to deter take-up of the tenant purchase scheme. The amendment will take effect for conveyances executed on or after 1 April 2011, and I commend this amendment to the Committee.

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