Jackie Cahill (Tipperary, Fianna Fail)
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99. To ask the Minister for Finance the way in which the family home will be treated for stamp duty when being transferred to a son or daughter to be used as the recipient's primary residence; the way it will be treated in cases in which the recipient has a separate primary residence; and if he will make a statement on the matter. [45049/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that the transfer of a family home to a son or daughter constitutes a conveyance on sale for the purposes of the Stamp Duties Consolidation Act (SDCA) 1999. Stamp duty is payable by the transferee, in this case the son or daughter whether or not it was transferred by way of sale or gift. Where a property is sold or otherwise transferred for less than market value, section 30 SDCA 1999 imposes a charge to stamp duty at the market value of the property.

Family relationships, the purposes for which a property is used or the number of properties owned are not relevant for stamp duty purposes, other than in the case of certain transfers of agricultural property between family members where a measure known a consanguinity relief may apply.

Stamp duty on transfers of residential property is chargeable at the rate of 1% where the consideration does not exceed €1 million. Where the consideration exceeds €1 million stamp duty is chargeable at 1% on the first €1 million and 2% of the balance in excess of €1 million.