Agriculture department breaks its silence on stamp-duty controversy

The Department of Agriculture has sought to clarify the confusion surrounding the stamp-duty increases introduced by the Minister for Finance in Tuesday’s Budget.

Thursday’s Finance Bill will provide details on transitional arrangements for those with signed contracts, which should allow the lower rate to apply to signed contracts.

The lower rate of stamp duty of 1 per cent is available to close family members provided that the person transferring the land is aged 67 or under, but the Department of Finance is going to examine a potential change to the upper age-limit.

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But Michael Fitzmaurice, an Independent TD in Roscommon-Galway, doesn’t believe the changes will have any effect.