Tom Parlon (Laois-Offaly, Progressive Democrats)

Section 7 provides for a change in the method used to calculate the value of the use of land for benefit-in-kind purposes. At present, the value of the benefit in kind is determined as being 5% of the land's market value. While this may be satisfactory in the case of land for normal use, it can give unreasonably high values for land with development potential. In future, benefit in kind will be determined in the same way for land as for premises, that is, the rent it might reasonably be expected to attain if let on an annual basis.