Dáil Éireann Debate, Thursday - 20 September 2018
53. Deputy Róisín Shortall asked the Minister for Finance the number of leases in 2017 on which stamp duty on residential leases has been paid at the 1% rate; the yield in 2017; and if he will make a statement on the matter. [38131/18]
View answerI am advised by Revenue that Stamp Duty information in respect of residential property leases is stored on a grouped basis across certain specific categories.
The individual categories are:
- leases not exceeding 35 years or leases for any indefinite term, which are liable to a rate of 1% on average annual rent in addition to 1% on first €1 million of premium consideration and 2% on premium consideration in excess of €1 million, (only applies where the annual rent is greater than €40,000 (€30,000 if the lease was executed before 25 December 2017).
- leases for a term exceeding 35 years but not exceeding 100 years, which are liable to a rate of 6% on average annual rent in addition to 1% on first €1 million of premium consideration and 2% on premium consideration in excess of €1 million.
No Stamp Duty applies where the period of the lease does not exceed 35 years, or is for an indefinite period, and where the annual rent does not exceed €40,000 (€30,000 if the lease was executed before 25 December 2017).
Revenue has confirmed that while it is not possible to provide a breakdown between the different categories of residential property leases at the 1%, 2% and 6% rates, the total number in 2017 was 331 with Stamp Duty of €0.2 million paid.
