365. Deputy Danny Healy-Rae asked the Minister for Agriculture, Food and the Marine the exemptions available for farmers purchasing land close to existing farmland, which would reduce the stamp duty rate from 7.5%; and if he will make a statement on the matter. [48401/26]

Section 604B of the Taxes Consolidation Act 1997 provides relief from Capital Gains Tax for farm restructuring. The relief applies to a sale, purchase or exchange of agricultural land, where Teagasc has certified that a sale and purchase or an exchange of agricultural land was made for farm restructuring purposes. The initial sale or purchase, or the exchange, must occur in the relevant period (between 1 January 2013 and 31 December 2029) and the subsequent sale or purchase must occur within 24 months of that sale, purchase or exchange. More information is available on the website of the Revenue Commissioners under [Farm Restructuring Relief].

Linked to Farm Restructuring Relief, section 81C of the Stamp Duties Consolidation Act 1999 makes provision for a relief from Stamp Duty to apply where farmers consolidate their farm holdings. Where the qualifying conditions are met, Stamp Duty at a reduced rate of 1% (instead of the usual rate of 7.5%) is applied to the excess of the value of the land purchased over the value of the land sold.