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23 November 2009

WINDFALL TAX WILL NOT AFFECT SITES FOR ONE OFF HOUSING

Sites for one off housing with planning permission and land that is subject to a Compulsory Purchase Order (CPO) will not be affected by the new windfall tax that is being introduced by the Government, according to Kerry Senator Mark Daly.  Senator Daly moved to reassure members of the public in Kerry about this after he had received several queries from concerned constituents on this subject.

The windfall tax rate of 80% will apply to the portion of the profit or gain which is attributable to a rezoning, where both the rezoning and sale of the land giving rise to the windfall happened after 30th October 2009. 

“I think this is positive news and I’m glad that I’m able to clarify that the windfall tax rate will not apply to one off housing planning permissions or to land that is subject to a CPO,” said Senator Daly.  “A lot of people in Kerry had been asking me about this and there was clearly a lot of confusion about this particular subject.”

“I really would not like to see any kind of tax fall on anyone who was looking to build on family land or anything like that.  That would be a huge area of discrimination and would badly hit small, local landowners.  Similarly anyone who was the subject of the CPO could find themselves doubly hit, not only would their land be disrupted but they would also not receive due payment for it.”

“Thankfully this will not be the case in the windfall tax and I hope this will help set minds at ease,” Senator Daly concluded.

ENDS.