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

Regarding Deputy Martin Kenny's points, I am well aware of the gravity of any decision that I make on taxation. I am crystal clear about it. I go back to the broad point that this rate of 2% was one third of what it had been a number of years ago. If we fail to use periods like this to bring rates like that back to a more sustainable level, we create the seeds of a tax system that is unable to cope with difficulty in the future. That is why I made this change.

I ask Deputy Doherty to give me the details of the individual to whom he referred. I will look into the matter on his behalf. It is our clear intention that anyone who has signed a contract for a land transaction avails of the 2% rate. If the Deputy has a concern about an individual transaction, I ask him to share it with me so that I can look into it and ensure it is dealt with correctly from a policy point of view. I am sure the Revenue Commissioners will be aware of it too.

Deputy McGrath referred to the farm consolidation piece. There is a capital gains tax for that particular area where transactions take place to consolidate farms. I have not looked at the issue to date because the overwhelming number of the contacts I received related to the provision of clarity on the applicable stamp duty rate where contracts are already signed and the consanguinity issue, which I have dealt with in the Finance Bill.

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