Dáil Éireann Debate, Wednesday - 21 October 2015
55. Deputy Eoghan Murphy asked the Minister for Finance his plans to abolish the stamp duty liability incurred by tenants paying more than €30,000 per year; or if he will increase the threshold to reflect rising rental prices. [36690/15]
Amharc ar fhreagraI take it that the Deputy is referring to stamp duty in leases.
I am advised by the Revenue Commissioners that a lease is chargeable to stamp duty on the rent payable under the lease as follows:
|
Residential and Non-residential Property |
Rate |
|
Lease for a term not exceeding 35 years or for any indefinite term |
1% of the average annual rent |
|
Lease for a term exceeding 35 years but not exceeding 100 years |
6% of the average annual rent |
|
Lease for a term exceeding 100 years |
12% of the average annual rent |
I am further advised that a lease of a house or apartment for a term not exceeding 35 years, or for any indefinite term, where the rent does not exceed €30,000 per annum, is exempt from stamp duty, and that Section 1 of the Stamp Duties Consolidation Act 1999 states that the lessee is the accountable person in relation to a lease.
I have no plans to change the basis of liability to stamp duty on leases.
