The Finance (Covid-19 and Miscellaneous Provisions) Bill 2021 passed all legislative stages of the Oireachtas on Tuesday, 13 July 2021. The Bill was signed into law on Monday 19 July.

The only amendments made to the legislation where those as passed by Dáil Éireann on Wednesday,7 July, which include amendments to provide for additional Covid Restriction Support Scheme (CRSS) supports for businesses who remain close or significantly restricted due to public health restrictions and a repayment scheme for the increased stamp duty rate, where residential units are leased to a local authority or approved housing body.

Following the announcement that indoor dining would not reopen as planned in early July, Minister for Finance, Paschal Donohoe TD, confirmed additional CRSS supports for two weeks from 5 July for business who remain closed or significantly restricted due to public health restrictions.

Section 4(1)(d) of the Bill was amended to provide for double week payment from the week commencing 5 July for a period of two weeks, subject to the statutory cap of €5,000 per week. Businesses benefitting from this additional support can still qualify for CRSS enhanced restart payments once they can reopen. The Guidelines on the operation of the CRSS were updated following the announcement.

The new section 15 within the Bill provides for the repayment of stamp duty where certain residential units are leased. The Minister for Finance proposed this amendment in the context of the strategy of the Minister for Housing, Local Government and Heritage, to increase the supply of social housing by means of the long-term leasing of residential units from private sector owners.

Under this new section, a person who paid stamp duty at the 10 percent rate will be able to claim a refund on part of the stamp duty where the residential unit acquired is subsequently leased to a local authority or an approved housing body. In order to quality, the lease with a local authority or approved housing body must be entered into within two years of the acquisition of the residential unit and the lease must be for a period of at least 10 years. Any refund is repayable to Revenue where the lease is terminated within that 10-year period.

The amount refundable will be the difference between the stamp duty that would have been paid at the standard rate and the stamp duty paid at the 10 percent rate.