asked the Minister for Finance if he is aware that owing to the value of land a heavy burden is placed on farmers in paying estate duty; and if he will consider introducing a system whereby death duties on purely agricultural land would be reduced.
Ceisteanna—Questions. Oral Answers. - Estate Duty on Land.
8.
The non-dutiable limit for Estate Duty is £5,000 and accordingly the average farm is not liable to Estate Duty at all unless the deceased owner has substantial other assets. In such circumstances the payment of Estate Duty should not be a heavy burden. Furthermore, where Estate Duty is payable on agricultural land, it may, unlike the duty on other forms of property, be paid by instalments during the eight years following the owner's death. In the circumstances I do not think that any change in the present system is called for.
Will the Minister now accept that undue hardship falls on quite a number of people because of this estate duty?
Is the Minister aware that there is a separate rating for agricultural land across the water?
I believe so.