Dáil Éireann Debate, Tuesday - 28 February 2012
315 Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation his assessment of the jobs created by the changes to commercial stamp duty and capital gains tax as outlined in the Finance Bill. [10660/12]
View answerAs the Minister for Finance announced in the Budget, a single Stamp Duty rate of 2 per cent will apply to non-residential property transactions executed on or after Budget night 6 December 2011. The Minister also announced a Capital Gains Tax (CGT) incentive for property purchased between 7 December 2011 and end 2013. Where such property is held for seven years, the gain attributable to that seven year holding period will be relieved from CGT.
The intention is that these measures will facilitate greater activity within the property market, leading to additional employment and activity in related sectors. They have been in place for less than three months so it is not possible to estimate how many jobs have resulted.
