Revenue eBrief No. 01/13
Young Trained Farmer Relief
Section 81AA of the Stamp Duties Consolidation Act 1999
The Minister for Finance has informed Revenue that the relief from stamp duty on transfers of agricultural land to young trained farmers, which was due to expire on 31 December 2012, will be extended. Full details will be contained in the Finance Bill 2013.
Revenue will, on an administrative basis until the enactment of the Finance Act 2013, apply the relief to instruments executed on or after 1 January 2013 where all other conditions of the relief have been satisfied. The eStamping System has been updated to accept claims in respect of transfers made on or after 1 January 2013.
Commercial Woodlands Relief
Section 95 of the Stamp Duties Consolidation Act 1999
Section 95 provides partial relief from stamp duty in respect of an instrument “being” a conveyance or transfer on sale, or a lease of land, on which commercial woodlands are growing. It was Revenue’s view that the relief did not extend to a gift of land.
In a recent appeal before the Appeal Commissioners, they determined that the relief also applied in the case of a conveyance or transfer operating as a voluntary disposition. Revenue have decided to accept the Appeal Commissioners’ determination. Accordingly, the relief will now apply to a conveyance or transfer on sale or lease or to a conveyance or transfer which operates as a voluntary disposition (gift).