Dáil Éireann Debate, Wednesday - 7 October 2020
262. Deputy Colm Burke asked the Minister for Agriculture, Food and the Marine if consideration has been given to extending consanguinity relief from 31 December 2020 to 31 December 2025; and if he will make a statement on the matter. [29034/20]
View answerWhile taxation policy is primarily the responsibility of the Minister for Finance, our two Departments work closely to ensure it is consistent with the Government's priorities for the agrifood sector.
Consanguinity relief from stamp duty provides, under certain conditions, for a 1% stamp duty rate applicable to transfers to certain close relatives, as compared with the standard rate of 7.5%. It is an important relief to facilitate the lifetime transfer of family farms and to encourage generational renewal.
Earlier this year, the extension of this relief was reviewed by the Department of Finance in the context of the Budget 2021 process, with input provided by my Department. The outcome of this review will be announced on Budget Day.
