Friday, 6 September 2019

Questions (167, 168)

Róisín Shortall

Question:

167. Deputy Róisín Shortall asked the Minister for Finance the estimate of the first and full year yield from a 2% points increase in stamp duty on non-residential property transfers on all amounts in excess of €500,000. [36929/19]

View answer

Róisín Shortall

Question:

168. Deputy Róisín Shortall asked the Minister for Finance the estimate of the first and full year yield from an increase to 5% for stamp duty on residential property transfers on all amounts in excess of €1 million. [36930/19]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 167 and 168 together.

I am advised by Revenue that a Ready Reckoner providing estimated impacts for potential changes to a wide range of taxes and duties  is available on the Revenue website at https://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.

On page 19 of the Ready Reckoner, a wide range of detailed information is shown on changing the Stamp Duty rate applicable to properties transferred in excess of various thresholds.

While the Ready Reckoner does not show the particular costings requested by the Deputy, they can be estimated on a straight-line basis from those displayed. It should be noted that these Ready Reckoner estimates do not reflect the impact of any behavioural change.

A first year cost is not available as it would be dependent on the date of introduction of any change.