Finance Bill stamp duty and farm reliefs
Deputy McGrath asked whether the forthcoming Finance Bill would address the stamp duty increase on non-residential property and protect farm transfers, including consanguinity relief and the young trained farmer exemption. After some cross-talk, the Taoiseach confirmed the Finance Bill would be published the next day and would temporarily remove the age limit for consanguinity relief to help intergenerational farm transfers.
I wish to ask the Taoiseach about the Finance Bill which I understand is due to be published tomorrow. I understand the Cabinet considered it today. One issue which has drawn quite an amount of attention is the increase in the rate of non-residential stamp duty from 2% to 6% and concerns about its impact on the farming community and farm transfers, in particular, within a family. Issues have been raised about consanguinity relief and also about the young trained farmer's exemption. Will the Taoiseach confirm whether the Bill to be published tomorrow will address any of these concerns and provide for changes to what was announced on budget day?
Comment on this
We had a vote on budget night and Deputy Michael McGrath voted against.
Comment on this
We did not vote on the issue at all. The Deputy must have been on the wine.
Comment on this
The Cabinet met this morning and agreed to the Finance Bill which will be published tomorrow. It was agreed to make a further change to taxation for farmers on consanguinity relief, to remove the age limit for a period of time to encourage and facilitate the intergenerational transfer of land within families from older to younger farmers. That was agreed to this morning and the Bill will be published tomorrow.