Dáil Éireann Debate, Tuesday - 21 September 2021
197. Deputy Carol Nolan asked the Minister for Finance if he will consider introducing measures enabling agricultural land sales to be subject to a 3% rate of stamp duty; and if he will make a statement on the matter. [45007/21]
Amharc ar fhreagraThe current stamp duty rate for non-residential property, which includes agricultural land, is 7.5%.
Farming is first and foremost a business, and indeed section 655 of the Taxes Consolidation Act 1997 states "For the purposes of the Tax Acts, farming shall be treated as the carrying on of a trade or, as the case may be, of part of a trade, and the profits or gains of farming shall be charged to tax under Case I of Schedule D."
A range of generous and targeted reliefs from stamp duty, specific to the agricultural sector which remove in full or reduce the rate of stamp duty payable on the acquisition of farmland, are however currently available. These include the young trained farmer stamp duty relief, consanguinity relief and farm consolidation relief. These reliefs are kept under regular review by my department, and are renewed, updated and added to in line with Government policy and prevailing circumstances, when necessary.
I have no plans to introduce a special stamp duty rate for agricultural land.
