Cian O'Callaghan
Question:78. Deputy Cian O'Callaghan asked the Minister for Finance the amount being raised from stamp duty on rents greater than €30,000 per annum; and if he will make a statement on the matter. [38605/21]
View answerWednesday, 14 July 2021
Questions (78)
Written answers
It is assumed the Deputy is referring to Stamp Duty payable on certain leases for residential houses or apartments.
I am advised by Revenue that the amounts raised for the most recent three years through Stamp Duty on all such liable residential leases, including both short-term and long-term leases, is provided in the table below.
|
Year |
Stamp Duty Paid |
|
2020 |
€9.0m |
|
2019 |
€4.5m |
|
2018 |
€7.4m |
Stamp Duty is payable on a lease of land situated in Ireland. Land includes agricultural land and buildings on the land. Buildings include commercial as well as residential buildings.
When a person purchases an apartment, it is done by way of a lease, and Stamp Duty is accordingly paid on the lease. However, a lease for a residential house or apartment is exempt from Stamp Duty if:
- the rent is €40,000 or less per year; and,
- the period of the lease is 35 years or less or is for an indefinite period.
Stamp Duty is chargeable on all other residential leases unless a person can claim a different exemption or relief, and is paid on the average annual rent.
Further information can be found on Revenue's website at www.revenue.ie/en/property/stamp-duty/leases/index.aspx.