Tuesday, 23 July 2019

Ceisteanna (234, 235, 236)

Richard Boyd Barrett

Ceist:

234. Deputy Richard Boyd Barrett asked the Minister for Finance the cost to date in 2019 of tax reliefs and exemptions available to property developers. [33528/19]

Amharc ar fhreagra

Richard Boyd Barrett

Ceist:

235. Deputy Richard Boyd Barrett asked the Minister for Finance the cost to date in 2019 of the tax reliefs and exemptions available to property owners. [33529/19]

Amharc ar fhreagra

Richard Boyd Barrett

Ceist:

236. Deputy Richard Boyd Barrett asked the Minister for Finance the cost to date in 2019 of the tax reliefs and exemptions available to landowners. [33530/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 234 to 236, inclusive, together.

The tax reliefs and exemptions available to property developers, property owners and land owners are set out in the table. Where a tax relief or exemption falls under more than one heading, it has been listed under one heading only to avoid double counting. For example, section S604A of the Taxes Consolidation Act 1997 provides for capital gains tax relief on the disposal of land or buildings. The relief has been included under the heading “property owners”, as it may be claimed by any property owner (including a property developer) who is disposing of land or buildings. 

The costs to the Exchequer, where available, are published at the following links with the most recent data currently available:

- General tax expenditures: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx

- Certain property based tax reliefs: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/property-reliefs.aspx

- LPT statistics: https://www.revenue.ie/en/corporate/information-about-revenue/statistics/local-property-tax/end-of-year-reports/local-property-tax-2018.aspx (exemption costs shown on page 5)

Legislative provision

Type of relief or exemption

Taxhead(s)

Available to property developers

Section 83D SDCA 1999

Stamp duty residential development refund scheme.

SD

Available to property owners

Section 482 TCA 1997

Relief for expenditure on approved buildings and gardens.

IT, CT

Section 658 TCA 1997

Farm buildings allowances.

IT, CT

Section 1003 TCA 1997

Donation of heritage items to approved body.

IT, CT, CGT, CAT

Section 1003A TCA 1997

Donation of heritage property to an Irish heritage trust.

IT, CT, CGT, CAT

Various sections of the TCA 1997

Industrial buildings allowances.

IT, CT

Various sections of the TCA 1997

Residential property based incentives.

IT, CT

S597AA TCA 1997

Revised Entrepreneur Relief

CGT

S598 TCA 1997

Disposals of business or farm on “retirement”

CGT

S598A TCA 1997

Relief on dissolution of farming partnerships

CGT

S599 TCA 1997

Disposals within family of business or farm

CGT

S600 TCA 1997

Transfer of business to company

CGT

S604 TCA 1997

Disposals of principal private residence

CGT

S604A TCA 1997

Relief for certain disposals of land or buildings

CGT

S604C TCA 1997

Exemption of certain payment entitlements

CGT

S606 TCA 1997

Disposals of work of art, etc., loaned for public display

CGT

S611 TCA 1997

Disposals to State, public bodies and charities

CGT

LPT

Exemptions for property owners

LPT

Section 89 CATCA 2003

Agricultural Relief

CAT

Section 86 CATCA 2003

Dwelling House Exemption

CAT

Available to land owners

Section 664 TCA 1997

Relief for certain income from leasing of farm land.

IT

Section 81AA SDCA 1999

Stamp duty exemption on transfers of land to ‘young trained farmers’.

Stamp duty

Section 81C SDCA 1999

Stamp duty exemption for consolidation of farmland, i.e. land both bought and sold within a specified period.

Stamp duty

S603A TCA 1997

Disposal of site to child

CGT

S604B TCA 1997

Relief for farm restructuring

CGT

S564 TCA 1997

Woodlands

CGT