Pádraig O'Sullivan (Cork North Central, Fianna Fail)
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162. To ask the Minister for Finance if he can advise on a case (details supplied); and if he will make a statement on the matter. [30588/24]

Jack Chambers (Dublin West, Fianna Fail)
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I assume the Deputy is referring to the relief from Stamp Duty that is provided for by section 81AA of the Stamp Duties Consolidation Act 1999. Section 81AA provides for relief from Stamp Duty in respect of transfers of agricultural land to individuals who come within the definition of “young trained farmer” on the date the deed transferring the land is executed, subject to certain other conditions being met.

The policy intent of the relief is to encourage younger generations of farmers with agricultural qualifications to pursue farming. This is reflected in the qualifying conditions of the relief, which require that the individual acquiring the land (the “transferee”):

• is under 35 years of age on the date of execution of the deed of transfer,
• holds an approved agricultural qualification,
• intends to spend not less than 50% of their normal working time farming the land for a period of not less than 5 years from the date the land is transferred,
• intends to retain ownership of that land for a period of at least 5 years from the date the land is transferred,
• submits a business plan to Teagasc before the execution of the instrument concerned, and
• is a microenterprise or small enterprise (as defined in Commission Regulation (EU) 2022/2472 of 14 December 2022 declaring certain categories of aid in the agricultural and forestry sectors and in rural areas compatible with the internal market in application of Articles 107 and 108 of the Treaty on the Functioning of the European Union).