Vol. 519 No. 1
120 Mr. Creed asked the Minister for Finance the extent of the availability of the stamp duty exemption for trained young farmers; if this scheme has been suspended; and, if so, when it is proposed to reintroduce the scheme. [12617/00]
There is full stamp duty relief for young trained farmers on transfers of any type of agricultural land. Under the terms of the Programme for Prosperity and Fairness, this was increased from two thirds to full relief in the Finance Act, 2000, for three years until 31 December 2002. This full relief applies in respect of transfers executed on or after 1 January 2000.
For the purposes of the relief a "young trained farmer" is one who (i) is under 35 years of age at the date of execution of the transfer; (ii) is the holder of one of the specified qualifications, for example, the Teagasc certificate in farming; or (iii) if born before 1 January 1968, has three years experience in farming together with satisfactory completion of Teagasc training courses in agriculture and horticulture of 180 hours duration.
Where the transferee has completed at least one academic year of the Teagasc certificate in farming at the date of execution of the transfer, he or she may obtain the relief by way of a refund provided that the qualification is obtained within three years of the date of execution of the transfer.
