Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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86. To ask the Minister for Finance if he will address a matter (details supplied) regarding the 6% stamp duty rate on farmland sales; and if he will make a statement on the matter. [44197/17]

Tom Neville (Limerick County, Fine Gael)
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89. To ask the Minister for Finance his views on a matter (details supplied); and if he will make a statement on the matter. [44144/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 86 and 89 together.

In my Budget 2018 statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine I also extended consanguinity relief for another 3 years and provided that the stamp duty rate applying under that scheme will be fixed at 1%. Consanguinity relief is availed of in transferring farms to younger family members. It encourages the early transfer of farms to younger generations and is mostly relevant where the transferee does not qualify for an alternative relief such as the Young Trained Farmer stamp duty exemption.

Transitional arrangements for signed contracts would apply. These are likely to be the normal changes that apply in relation to stamp duty changes.

Details of these measures will be contained in the Finance Bill.