Fine Gael ministers, TDs and senators have been urged to extend some farm transfer tax reliefs.
During a presentation from the party’s agricultural, food and rural development forum on Wednesday, the Fine Gael parliamentary party heard that there are arguments for improving stock relief and stamp duty for farmers.
“Capital acquisitions tax and agriculture reliefs remain firmly on the farming agenda, but stock relief and stamp duty are also emerging as areas where changes could be made.
“Currently, these reliefs are available to those aged 35 years and under, but there is an argument to be made for extending it to those aged 40 years and under,” Fine Gael farm group chair Eddie Downey said.
Meeting
During the presentation, Downey warned that tax relief and farm succession on the transfer of family holdings from one generation to the next should be given “consideration ahead of Budget 2024”.
Farm transfer tax reliefs could be extended. \ Donal O' Leary
Downey also highlighted that “EU legislation, such as the nitrates, nature restoration and pesticide regulation directives, will impact significantly on farmers”.
“They want clarity around how these will impact on their business,” he continued.
The former Irish Farmers' Association president also highlighted that the residential zoned land tax is an issue for farmers and warned that it “must be resolved too”.
Group
The Fine Gael agricultural forum was formed to serve as a representative body for rural Ireland’s Fine Gael members and the parliamentary body.
The group has held two regional conferences over the past six months, allowing it to engage with 2,500 people on the issues which matter to them in their communities.
The group comprises of 61 delegates nationwide.
Wednesday’s meeting with Fine Gael ministers, TDs and senators provided “us collectively with a focus on how we best serve rural Ireland in the coming months, years and indeed, generations ahead”, Downey said.
Read more
Farm diversification on the agenda for Fine Gael farmer meeting
Politics at play at Fine Gael farming gig
Fine Gael ministers, TDs and senators have been urged to extend some farm transfer tax reliefs.
During a presentation from the party’s agricultural, food and rural development forum on Wednesday, the Fine Gael parliamentary party heard that there are arguments for improving stock relief and stamp duty for farmers.
“Capital acquisitions tax and agriculture reliefs remain firmly on the farming agenda, but stock relief and stamp duty are also emerging as areas where changes could be made.
“Currently, these reliefs are available to those aged 35 years and under, but there is an argument to be made for extending it to those aged 40 years and under,” Fine Gael farm group chair Eddie Downey said.
Meeting
During the presentation, Downey warned that tax relief and farm succession on the transfer of family holdings from one generation to the next should be given “consideration ahead of Budget 2024”.
Farm transfer tax reliefs could be extended. \ Donal O' Leary
Downey also highlighted that “EU legislation, such as the nitrates, nature restoration and pesticide regulation directives, will impact significantly on farmers”.
“They want clarity around how these will impact on their business,” he continued.
The former Irish Farmers' Association president also highlighted that the residential zoned land tax is an issue for farmers and warned that it “must be resolved too”.
Group
The Fine Gael agricultural forum was formed to serve as a representative body for rural Ireland’s Fine Gael members and the parliamentary body.
The group has held two regional conferences over the past six months, allowing it to engage with 2,500 people on the issues which matter to them in their communities.
The group comprises of 61 delegates nationwide.
Wednesday’s meeting with Fine Gael ministers, TDs and senators provided “us collectively with a focus on how we best serve rural Ireland in the coming months, years and indeed, generations ahead”, Downey said.
Read more
Farm diversification on the agenda for Fine Gael farmer meeting
Politics at play at Fine Gael farming gig
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