Agriculture Minister says government won’t row back on tripling stamp duty

Photo: finegael.ie

The Agriculture Minister says the government won’t be rowing back on the tripling of commercial stamp duty.

The unexpected measure was announced in Tuesday’s budget, and saw the rate move from 2 to 6% on the sale of land valued at over €1 million.

The stamp duty relief on inter-family farm transfers will remain at 1% for another three years, and the long-time, full exemption for young trained farmers from stamp duty will also continue.

Agriculture Minister Michael Creed had initially said the 2 to 6% increase wouldn’t affect farmers, but that’s not the case.

He confirmed to Radio Kerry that it’s here to stay.

You can hear this interview in full on Agritime from 7 o’clock this evening.