Dáil Éireann - Volume 537 - 31 May, 2001
Written Answers. - Tax Yield.
Mr. J. Mitchell Mr. J. Mitchell
82. Mr. J. Mitchell asked the Minister for Finance the separate areas of economic activity subject to stamp duty; the percentage of stamp duty applicable in respect of each; the level at which it is applicable; the yield in the year 2000 in respect of each; the expected yield in 2001; and the total yield from all stamp duties in both years. [16393/01]
Mr. McCreevy Mr. McCreevy
Minister for Finance (Mr. McCreevy): The following table below gives a breakdown of the main categories of activities which are liable to stamp duty:
Land and Property
Rates applying for Residential Property*
Rates applying for Non-residential property*
*Transfers between blood relatives attract stamp duty at half the normal rates of duty.
** No stamp duty is payable by an owner-occupier on the purchase of a new house up to 125 square metres; in the case of a new house bought by an owner-occupier above this size, the stamp duty is charged only on the site value or one quarter of the total value of the site and the house, whichever is the greater.
Insurance and Miscellaneous
This category includes the 2% levy on insurance premiums which accounts for over 60% of the 2000 yield in this category. The levy is imposed on almost all non-life insurance premia, the exceptions being reinsurance, voluntary health insurance, marine, aviation and transit insurance and export credit insurance. The 2000 yield for this category also includes the 0.1% stamp duty charge on life assurance policies which was abolished in the budget 2001 in respect of policies issued on or after 1 January 2001.
Dáil Éireann 537 Written Answers. Tax Yield.