Friday, 6 September 2019

Ceisteanna (161)

Róisín Shortall

Ceist:

161. Deputy Róisín Shortall asked the Minister for Finance the amount raised in each of the past three years through the stamp duty on rental property in cases in which the full rent is above €2,500; and his plans to abolish the duty. [36686/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that the amount raised in each of the last three years through Stamp Duty on leases, where the consideration is greater than €2,500, is provided in the following table.  

Year

Stamp   Duty paid (million)

2018

€20.08

2017

€7.27

2016

€8.71

I assume that the Deputy is referring to the monthly residential rental threshold of €2,500 for all leases executed before 25 December 2017 and €3,333 for leases executed on or after that date.

As set out in Schedule 1 of the Stamp Duty Consolidation Act 1999, under "LEASE", Stamp Duty is not payable on a lease for a residential house or apartment if:

- the rent is €40,000 or less per year (€30,000 if the lease was executed before 25 December 2017), and

- the period of the lease is 35 years or less, or is for an indefinite period.

I am advised by Revenue that the amount raised in each of the last three years through Stamp Duty on residential leases is provided in the following table.  

Year

Stamp Duty paid (million)

2018

€0.14

2017

€0.2

2016

€0.15

I have no plans at this time to amend the legislation on this Stamp Duty. 

Question No. 162 answered with Question No. 115.