Michael McGrath (Cork South Central, Fianna Fail)
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258. To ask the Minister for Finance when the first claims will be eligible to be made for an exemption from capital gains tax under section 604A of theTaxes Consolidation Act 1997 for properties held for seven years; if his Department has made an initial estimate of the tax expenditure that will be associated with the relief; and if he will make a statement on the matter. [10384/17]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by Revenue that the exemption from capital gains tax referred to by the Deputy applies to properties acquired in the period commencing on 7 December 2011 and ending on 31 December 2014 which are held for a minimum period of seven years. Accordingly, the earliest date that properties acquired in the relevant period can qualify for the exemption will be 7 December 2018.

It is not possible to estimate how many properties will be disposed and be eligible for this scheme or the amount of the resulting chargeable capital gain, if any, that may arise on such disposals.  Accordingly, it is not possible to estimate the likely cost of the exemption.