Michael Creed (Cork North West, Fine Gael)
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Question 64: To ask the Minister for Finance the incentives available under legislation sponsored by him to encourage land transfer to young qualified farmers; and if he will make a statement on the matter. [15954/11]

Michael Noonan (Limerick City, Fine Gael)
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The purchase of land by a Young Trained Farmer qualifies for an exemption from Stamp Duty. A Young Trained Farmer is someone who is under 35 years of age on the date of execution of the deed of transfer and has attained one of the necessary qualifications and, where required, is the holder of the appropriate certificate(s) awarded by the Further Education and Training Awards Council (FETAC) in respect of Teagasc approved training courses.

Qualifications for applying for relief from Stamp Duty in respect of transfers to Young Trained Farmers are set out in Schedules 2, 2A and 2B of the Stamp Duties Consolidation Act 1999. These lists include qualifications awarded by third-level institutions. If the individual holds one of these qualifications (and the appropriate FETAC certificate, where required) and is under 35 years of age, s/he would be defined as a Young Trained Farmer and would therefore qualify for an exemption from Stamp Duty. Further information, including a form to apply for the exemption, can be obtained in Revenue Leaflet SD2B, "Stamp Duty Exemption – Transfer of Land to Young Trained Farmers", available from Revenue offices and on the Revenue website.

This exemption is due to expire on 31 December 2012.