Vol. 508 No. 1
382 Mr. Hayes asked the Minister for Finance the amount of revenue raised from the collection of stamp duty on the sale of all residential property over the past three years; and if he will make a statement on the matter. [17419/99]
I am informed by the Revenue Commissioners that prior to the Finance No. 2 Act, 1998, the data was not broken down so as to distinguish between sales of residential property and sales of other property. However, data on the amount of stamp duty collected in respect of transfers and leases of all property is available.
The yield from stamp duty for the transfer and lease of all property is as follows: 1996, £194.3 million; 1987, £254.3 million; and 1998, £304.9 million.
In the past, Revenue have tentatively estimated that of the order of 60 per cent of this yield came from transfers and leases of residential property. However, since the changes in the stamp duty code in April 1998, in response to the recommendations of the first Bacon report, it will, in the future, be possible to identify what amount of total yield derives from the transfer and lease of residential property.
