asked the Minister for Finance whether he is aware that in the transfer of land, subject to a Land Commission annuity, Stamp Duty is charged on the redemption value of the annuity, in addition to the actual purchase price, and seeing that no similar addition is made in Stamp Duty in the transfer of land subject to rent interest in lieu of rent, on ordinary mortgage, he will consider the justice and equity of abolishing such additional duty in the case of the transfer of land purchased under the Land Purchase Acts.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - STAMP DUTY.
SEAN O DUINNIN
Under Section 57 of the Stamp Act, 1891, a charge of incumbrance subject to which the property is transferred is treated as part of the consideration for the transfer, and liable to Stamp Duty accordingly. The Land Commission annuity is a charge on incumbrance within the meaning of that section, and no discrimination is made between it and any other charge.
Rent and interest in lieu of rent are not charges within the meaning of the section, and, therefore, are not added in arriving at the amount of the consideration. The abolition suggested in the question would involve a considerable loss of Revenue, and I see no reason why those who have derived such advantages from State aid should not continue to contribute to the taxes as hitherto.