Brian Ó Domhnaill (Fianna Fail) | Oireachtas source

On section 1, I would support much of what has been said by Senator Reilly, particularly on the wording of this legislation. What is happening here is that the report commissioned in 2006-07 was followed by the introduction by the previous Government of a tax on second homes. That is now being annulled. There is now no tax on the second home. One can have two, three, four, five or six homes, but one will not have to pay the extra ¤200 per house on the second or third home. What is happening here is that the principal primary residence - in other words, the family home - is being taxed. I accept that if one has a second or third house it will be taxed also, but there is no additional taxation measure on a subsequent property. The primary family home, therefore, is taxed as an additional property.

The family home tax title proposed by Sinn Féin may not be exactly right, but what is proposed is a home tax. The home may not be a family home but it is a home tax because someone lives in the house. There are exemptions in the Bill which exclude developers, but I am not sure if NAMA properties are excluded. We did not get an answer to that on Second Stage but I would like to know if NAMA is included. Does NAMA have to pay the property tax? I am sure the Minister will clarify that in his address.

The Sinn Féin argument for a wealth tax on property is something that should be explored. I would be opposed to the introduction of a taxation measure on farm lands, farm buildings, farm structures or capital from which people derive an income or provide employment, but it is an idea that should be explored. The Minister may know the figures in terms of what the Sinn Féin proposals would yield. I am not sure what that would be but I pose the question in the hope the Minister might be able to answer it. This is not a property tax; it is a home tax.