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

I propose to take Questions Nos. 9 and 10 together.

In my Budget Statement, I announced an increase in the stamp duty rate for all non-residential property transactions, including those relating to agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine, I also announced an extension of consanguinity relief for another three years and that the stamp duty rate applying under that scheme would be fixed at 1%. Consanguinity relief is availed of in transferring farms to younger family members. It encourages the early transfer of farms to younger generations and is mostly relevant where the transferee does not qualify for an alternative relief, such as the young trained farmer stamp duty exemption.

In the aftermath of the Budget Statement, I received correspondence from farming interests regarding a number of issues, including stamp duty. I have decided that in addition to extending the period of the relief and fixing the associated stamp duty rate at 1%, the age rule for the consanguinity relief will be removed. This means that it will be possible for all gifts and sales of farmlands to closely related family members who do not qualify for the 100% exemption available under the young trained farmer scheme to benefit from consanguinity relief at a stamp duty rate of 1%. The question of an age limit will be revisited when the measure comes up for review towards the end of 2020.

The young trained farmer relief scheme will not be affected by the stamp duty rate change because it provides for a full stamp duty exemption where the qualifying criteria are met.

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