Tax Code.

Dáil Éireann Debate, Wednesday - 6 October 2004

Wednesday, 6 October 2004

Ceisteanna (99)

Bernard J. Durkan

Ceist:

217 Mr. Durkan asked the Minister for Finance the position in relation to stamp duty for farmers over 35 who inherit the family farm; if there are plans to amend or change same in the future; and if he will make a statement on the matter. [23728/04]

Freagraí scríofa

Minister for Finance (Mr. Cowen)

No stamp duty is imposed in respect of an inheritance regardless of whether the person inheriting the property would be eligible for stamp duty relief as a young trained farmer.

In respect of all other farm transfers, for example, by way of a gift or a sale, a stamp duty exemption is available to young trained farmers who fulfil certain criteria. For the purposes of the relief, a young trained farmer is one who is under 35 years of age on the date of execution of the transfer and is the holder of one of the specified agricultural qualifications.

Any proposals to alter this position would fall to be considered as part of the normal review of existing reliefs in the context of the budget and Finance Bill cycle.