Written answers
Tuesday, 8 November 2005
Department of Finance
Tax Collection
8:00 pm
Tommy Broughan (Dublin North East, Labour)
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Question 333: To ask the Minister for Finance the amount of tax generated by stamp duty at each of the current levels for the years 1998, 1999, 2000, 2001, 2002, 2003, 2004 and to-date; and the amount expected to be collected by the end of 2005 and in 2006 if rates remain the same. [32444/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I understand the Deputy is seeking a breakdown of stamp duty yield, in each of the years referred to, according to the main available stamp duty categories, and furthermore in the case of residential property, a breakdown of yield according to the various stamp duty rates that applied in each year.
I am informed by the Revenue Commissioners that information is not available to provide a breakdown of the residential stamp duty yield appropriate to each rate in each year. However, the following table shows the Revenue Commissioners' net yield from stamp duties by category in each of the years 1998 to 2004 and in the nine month period to the end of September 2005.
| Category | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 end Sep. |
| â'¬m | â'¬m | â'¬m | â'¬m | â'¬m | â'¬m | â'¬m | â'¬m | |
| Residential Property | 213 | 263 | 282 | 265 | 349 | 528 | 752 | 672 |
| Non-Residential Property | 174 | 288 | 392 | 406 | 317 | 547 | 709 | 760 |
| Stocks & Shares | 161 | 226 | 231 | 346 | 303 | 256 | 261 | 227 |
| Companies Capital Duty | 38 | 19 | 49 | 76 | 28 | 21 | 24 | 15 |
| Financial Cards, Cheques, etc. | 34 | 37 | 42 | 45 | 48 | 100 | 112 | 113 |
| Bank Levy* | — | — | — | — | — | 103 | 103 | — |
| Insurance & Misc. Items | 67 | 79 | 94 | 85 | 95 | 110 | 109 | 80 |
| Total** | 687 | 913 | 1,090 | 1,223 | 1,139 | 1,664 | 2,070 | 1,867 |
| * The Bank Levy for 2005 is at present being processed. | ||||||||
| ** Any apparent discrepancies in the totals are due to rounding of constituent figures. |
The total net receipt from stamp duties was €2,180 million in the ten months to 31 October 2005. A breakdown by category of this end-October total is not yet available. In the remaining two months of 2005, additional stamp duties in excess of €300 million are profiled for collection in accordance with the monthly profile of expected tax revenue receipts published by my Department in January last. As regards a forecast for stamp duty yield for 2006, this will be published, as usual, in my budget speech next month.
I also understand the Deputy is seeking information on the various rates of stamp duty for residential property applicable since 1998. The following table shows the rates applicable to second-hand residential property during the period requested by the Deputy:
| Date | Bands | First-time Owner-occupiers | Other Owner-occupiers | Investors |
| â'¬ | % | % | % | |
| 2/12/04 to date | Up to 127,000 | Nil | Nil | Nil |
| 127,001-190,500 | Nil | 3 | 3 | |
| 190,501-254,000 | Nil | 4 | 4 | |
| 254,001-317,500 | Nil | 5 | 5 | |
| 317,501-381,000 | 3 | 6 | 6 | |
| 381,001-635,000 | 6 | 7.5 | 7.5 | |
| Over 635,000 | 9 | 9 | 9 | |
| 1/1/02 to 1/12/04 | Up to 127,000 | Nil | Nil | Nil |
| 127,001-190,500 | Nil | 3 | 3 | |
| (Conversion to Euro. No change in rates.) | 190,501-254,000 | 3 | 4 | 4 |
| 254,001-317,500 | 3.75 | 5 | 5 | |
| 317,501-381,000 | 4.5 | 6 | 6 | |
| 381,001-635,000 | 7.5 | 7.5 | 7.5 | |
| Over 635,000 | 9 | 9 | 9 | |
| £ | ||||
| 6/12/01 to 31/12/01 | Up to 100,000 | Nil | Nil | Nil |
| 100,001-150,000 | Nil | 3 | 3 | |
| 150,001-200,000 | 3 | 4 | 4 | |
| 200,001-250,000 | 3.75 | 5 | 5 | |
| 250,001-300,000 | 4.5 | 6 | 6 | |
| 300,001-500,000 | 7.5 | 7.5 | 7.5 | |
| Over 500,000 | 9 | 9 | 9 | |
| 27/1/01-5/12/01* | Up to 100,000 | Nil | Nil | 3 |
| 100,001-150,000 | Nil | 3 | 3 | |
| 150,001-200,000 | 3 | 4 | 4 | |
| 200,001-250,000 | 3.75 | 5 | 5 | |
| 250,001-300,000 | 4.5 | 6 | 6 | |
| 300,001-500,000 | 7.5 | 7.5 | 7.5 | |
| Over 500,000 | 9 | 9 | 9 | |
| 15/6/00-26/1/01 | Up to 100,000 | Nil | Nil | 9 |
| 100,001-150,000 | Nil | 3 | 9 | |
| 15,001-200,000 | 3 | 4 | 9 | |
| 200,001-250,000 | 3.75 | 5 | 9 | |
| 250,001-300,000 | 4.5 | 6 | 9 | |
| 300,001-500,000 | 7.5 | 7.5 | 9 | |
| Over 500,000 | 9 | 9 | 9 | |
| 23/4/98-14/6/00 | Up to 60,000 | Nil | Nil | Nil |
| 60,001-100,000 | 3 | 3 | 3 | |
| 100,001-170,000 | 4 | 4 | 4 | |
| 170,001-250,000 | 5 | 5 | 5 | |
| 250,001-500,000 | 7 | 7 | 7 | |
| Over 500,000 | 9 | 9 | 9 | |
| * For the period 27 January 2001 to 5 December 2001 the investors column as shown, applied to new houses only. For investors of second-hand houses the rate was 9. |
The stamp duty provisions with regard to new residential property have not changed since April 1998. All purchasers of new residential property, who are owner-occupiers, are exempt from stamp duty where the floor size of the property concerned is less than 125 square metres. Where the floor size of new properties is 125 square metres or greater, stamp duty is charged on the site value at the current rates applying to second-hand residential properties, as outlined above, or on 25% of the value of the property, excluding VAT, whichever is the greater. In the case of investors of new residential property, stamp duty is charged on the sale value of the property at the current rates applying to second-hand residential property, as already outlined, regardless of the floor size of the property.
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