Written answers

Tuesday, 21 November 2017

Photo of Paul KehoePaul Kehoe (Wexford, Fine Gael)
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130. To ask the Minister for Finance if a person is liable to full charge (details supplied); and if he will make a statement on the matter. [48682/17]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I am advised by Revenue that transfers of farmland between certain blood relatives qualify for a reduced rate of stamp duty of 1% provided certain conditions are met. This is referred to as consanguinity relief. This measure currently applies where the person transferring the land is less than 67 years of age.

In Finance Bill 2017 I have introduced measures to extend consanguinity relief for a further three years until 31 December 2020 and also to remove the age limit of 67 years for the person transferring the farmland. Both of these measures will come into effect on the enactment of the Finance Bill which I expect to happen around the end of December.

As the extension to the age limit will not come into effect until the enactment of the Finance Bill, any transfer of property prior to that date where the person transferring the land is over the current age limit will not qualify for consanguinity relief and the transfer will therefore be subject to stamp duty at a rate of 6%.

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