asked the Minister for Finance how many non-nationals purchased farms in this country since the 25 per cent. stamp duty was imposed; how many of those paid the duty; and what was the total amount of duty collected.
Ceisteanna—Questions. Oral Answers. - Farm Purchases by Non-Nationals.
30.
The 25 per cent. rate of stamp duty came into force on the 2nd December, 1947, with the passing of the Finance (No. 2) Act, 1947. It will be recalled that the duty did not apply to all purchases of property by non-nationals and, consequently, the records do not show the total number of properties purchased by non-nationals.
Up to the 31st December, 1960, there were, in all, 917 cases in which the 25 per cent. rate of duty was paid and the total amount of duty collected was £367,701. From the records available it is not possible to distinguish purchases of farms from purchases of other properties.
Can the Minister indicate under what circumstances the non-nationals do not pay the 25 per cent?
Since 1956, those who acquire property for industrial development or property with less than five acres attached are exempted.