James Reilly (Dublin North, Fine Gael)
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Question 151: To ask the Tánaiste and Minister for Finance if he will review and update the exemption limits on the revenue relief scheme for the transfer of sites from parent to child to bring the exemption limits within realistic current market values as the current exemption limit is approximately ten years old and out of date; and if he will make a statement on the matter. [22314/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The transfer of a site from a parent to a child for the purpose of building a private residence is, subject to certain conditions, exempt from capital gains tax, capital acquisitions tax and stamp duty. One of the conditions for relief is that the value of the site does not exceed €254,000. This is still a very generous exemption and I have no plans to change it.