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Dáil Éireann díospóireacht -
Thursday, 13 Dec 1979

Vol. 317 No. 9

Written Answers. - Stamp Duty on Land.

143.

asked the Minister for Finance the cases, if any, where agricultural land has been valued at £4,000 or more per acre for stamp duty purposes, the method whereby such a high valuation was arrived at in view of the average income figures per acre revealed in the Agricultural Institute's farm management survey.

Stamp Duty is payable on the occasion of a sale or of a voluntary conveyance of property. In the case of a sale, the value for stamp duty is the amount realised on the sale, a figure that is determined by the vendor and purchaser. Where the conveyance is voluntary the value for duty is agreed by the parties concerned with the commissioner of valuation acting on behalf of the Revenue Commissioners. The value for stamp duty in the case of a voluntary conveyance is the value of the property, that is, the amount that the property would realise on a sale in the open market on the date of the transfer. There are no statistics available classifying sales or voluntary dispositions of agricultural land by value per acre for stamp duty purposes. Therefore it is not possible to indicate the number of cases where values of £4,000 per acre or more have applied.

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