Paul Kehoe (Wexford, Fine Gael)
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Question 316: To ask the Minister for Finance if there are exemptions for full time farmers over 35 years of age paying stamp duty when a farm is transferred from their father, when the cost of this duty cannot be met; and if he will make a statement on the matter. [30118/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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There is no exemption from stamp duty on the transfer of a farm from a father to one of his children who is a full time farmer and who is over 35 years of age at the date of the transfer. The stamp duty code contains full stamp duty relief for transfers of land to young trained farmers under 35 years where land is transferred to them by way of gift or sale, provided they have attained relevant educational qualifications. This relief, which is considered generous, is intended to encourage the transfer of land to young farmers who have successfully undergone training.

Where a parent wishes to transfer agricultural land to a child where the child does not qualify for this young trained farmer relief, he or she can qualify for a 50% relief on the stamp duty otherwise chargeable, as the child of the person transferring the land. I am further informed by the Revenue Commissioners that there is no provision in the stamp duty code to take account of a taxpayer's personal circumstances or ability to pay where a liability to stamp duty is incurred.