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Dáil Éireann díospóireacht -
Wednesday, 3 Oct 2001

Vol. 541 No. 2

Written Answers. - Stamp Duty.

John Perry

Ceist:

387 Mr. Perry asked the Minister for Finance if he will apply the 3% rate of stamp duty in the case of persons (details supplied) in County Sligo; and if he will make a statement on the matter. [21779/01]

The rate of stamp duty is set out in stamp duty legislation which is administered by the Revenue Commissioners. I am advised by Revenue that prior to the Deputy's question they had no record of this case and there is insufficient detail in the letter accompanying the parliamentary question to allow them to determine the stamp duty due in this particular case. Prior to 15 June 2000 stamp duty on the purchase of a house was determined by virtue of the value of the property and ranged from 9% down to nil. The rate of 3% mentioned in the parliamentary question applied to a house between £60,001 and £100,000 at the time in question. From 15 June 2000 stamp duty was determined by virtue of the value of the property and the status of the purchaser either as a first time buyer, an owner-occupier or an investor. Transitional arrangements were introduced to allow the purchaser of a house to opt to have the stamp duty rate in force prior to 15 June 2000 applied to the deed of transfer, should it be more favourable, where the purchase of a house was the subject of a contract evidenced in writing prior to 15 June 2000 and provided the deed was executed on or before 31 January, 2001 – extended to 31 July 2001 under the Finance Act, 2001. Revenue has been in touch with the purchasers' solicitor to establish the full facts in this matter and to determine if the transitional arrangements apply. They will arrange for a deed of transfer to be stamped at the appropriate rate of stamp duty following an examination of the circumstances in the case.

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