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Dáil Éireann debate -
Wednesday, 13 Dec 1972

Vol. 264 No. 7

Ceisteanna—Questions. Oral Answers. - Estate Duty Assessments.

6.

asked the Minister for Finance if any estimate or study has been made of the effect of recent increases in land values on the impact of estate duty in forcing farmers' sons who succeed to farms to sell them in order to pay the duty.

The matter is constantly under review.

There is no evidence that lands have had to be sold or are being sold because of the impact of estate duty. If the Deputy would give particulars of any case in which it is claimed that land has had to be sold for the sole purpose of paying estate duty, the matter will be investigated.

Is the Minister aware that it is difficult to get these cases because people are not prepared to disclose personal information of this nature? Is he also aware that the increased value of stock has meant that more and more farms are likely not to be in a position to avail of the artificial valuation and, once that happens, increased values in land, which are also taking place, will mean that the amount of duty will increase at a very dramatic rate as compared with what it was two years ago? Would he agree to have a special study made into this matter in the light of the constantly increasing value of stock and land values as a result of EEC entry?

As I said in my reply, this matter is kept constantly under review and will continue to be kept under review. The reviews carried out up to now show no evidence whatsoever of people being forced to sell land because of the incidence of estate duty and that is why I said, if there are details available of such cases, I will be glad to get them and have the cases investigated. It is true that increases in the value of land will bring more farming cases into the estate duty net. I am sure the Deputy is aware that up to now the number of farming cases coming into the estate duty net was extremely small. When any property increases in value it becomes either liable to duty for the first time or, if already in the net, liable to more duty.

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