Jim Walsh (Fianna Fail) | Oireachtas source

In the run up to the budget, there was much discussion about fairness. The point made by Senator Harte can be easily undermined. For example, two people living in adjacent homes, one of whom is on a salary of 40% more than the other person and living in a rented property and will not be liable for the property tax and the other person, who is on the lower salary but is above the exemption limit and has a mortgage more than twice the value of the property, who will be liable for this tax. There is an element of inequity in the system. This amendment proposes that account be taken of the mortgage on a home.

That point is not addressed in the Bill. I am not saying it would be easy to address but it is a problem and it is inequitable tax application.

On the stamp duty, I agree with Senator O'Reilly in that regard. People bought at the height of the property boom, and also in recent years, and there should be some amelioration, perhaps a discount of 10% each year or whatever, in terms of the tax being paid to allow for the fact that they paid stamp duty at the higher rate. Arguments can be made for that which are founded on fairness, and I urge the Minister to examine that between now and the publication of the Finance Bill to see if some amelioration can be given.