asked the Minister for Finance the cost or estimated cost to the Exchequer due to the operation of the 50 per cent relief on conveyances of lands houses and other property for certain classes of relatives for the purposes of stamp duties, in each year from 1985 to 1989 inclusive.
Written Answers. - Stamp Duties.
72.
I have been advised by the Revenue Commissioners that the cost of providing a reduced rate of stamp duty for certain classes of relatives in respect of the conveyance or transfer on sale of any property other than stocks or marketable securities in the years 1985 to 1988 is as follows: 1985, £1.5 million; 1986, £1.8 million; 1987, £2.2 million; 1988, £3 million. The information sought in respect of clendar year 1989 is not yet available.
73.
asked the Minister for Finance the cost or estimated cost to the Exchequer due to the exemption of the first £10,000 of mortgages from stamp duties in each year from 1985 to 1989 inclusive.
I am advised by the Revenue Commissioners that, under the relevant legislation, an exemption from stamp duty is available for mortgages only when the full amount of the mortgage does not exceed £10,000. Duty is payable on the full sum of the amount if the mortgage exceeds £10,000.
Information is not available as to the cost of the exemption for mortgages of under £10,000 as there is no legal requirements for stamping the associated instruments but the cost is unlikely to be significant.