Income averaging will be extended to farms with an off-farm trading income in Budget 2019, Minister for Finance Paschal Donohoe has confirmed.

In his speech to the Dáil, he also announced a three-year extension of the young trained farmer stamp duty relief, which was due to expire at the end of 2018.

I also intend to provide for a three year extension of the Young Trained Farmer stamp duty relief, which was due to expire at the end of this year. #Budget19

— MerrionStreet.ie (@merrionstreet) October 9, 2018

Existing stock relief measures have also been extended to 2021. Donohoe also confirmed an increase to the category A capital acquisitions tax-free threshold.

#Budget19 pic.twitter.com/lX8PBrEIZu
— Department of Finance (@IRLDeptFinance) October 9, 2018

Amount for young trained farmer stamp duty relief: €15m

Amount for stock relief: €8m

Amount for inclusion of off-farm income in averaging: €2.5m in a full year

"Thankfully the minister for finance has seen the benefit of both the stamp duty relief for your trained farmers and 100% stock relief for young trained farmers", Macra President @HealyJamesc welcomes these announcements. #Budget19 pic.twitter.com/oalZI0Izie
— Farmers Journal (@farmersjournal) October 9, 2018

Budget 2019: income averaging extended to those with off-farm income

Farmers with an off-farm income can use averaging under Budget 2019. Stock relief and young farmer stamp duty relief have been extended.