No plans to renew stamp duty on consolidation
“I understand the level of take up of the scheme was not particularly high. There were only 115 applications for the relief from its introduction in 2005 until the end of 2009. Figures for 2010 and 2011 are not yet available,” said Mr Noonan.
The stamp duty relief applies where a farmer sells qualifying land and purchases qualifying land in order to consolidate his or her holding. The sale and purchase must occur within 18 months of each other, and before June 30, 2011. The land sold and purchased must be in the State; it must be agricultural land or afforested land, and cannot include bog land; and it must not contain residential buildings. Teagasc issues farm consolidation certificates to qualifying farmers.
