Noel Coonan (Tipperary North, Fine Gael)
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To ask the Minister for Finance the position regarding capital gains liability in respect of a person (details supplied) in County Tipperary; the reasons, if any, the exemption is not applied to them; and if he will make a statement on the matter. [56818/12]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that relief from capital gains tax was available where a farmer sold land and used the proceeds to purchase other land for use in farming. This relief (commonly referred to as roll-over relief) was a deferral of the capital gains tax until the replacement land was sold or ceased to be used for the purposes of farming. However this relief ceased with effect form 4 December 2002. You will be aware that I announced in Budget 2013 that I am introducing relief from capital gains tax, to enable farm restructuring, where the proceeds of a sale of farm land are reinvested for the same purpose. This relief will apply to the sale and purchase of farm land and to farm land swaps within 24 months of each other, during the period commencing 1 January 2013 and ending on 31 December 2015, subject to certification by Teagasc for all transactions seeking relief.

As I understand that the person whose details you supplied sold and bought the lands in question earlier this year there is no relief available in respect of any capital gains tax payable on that sale.