asked the Minister for Finance the number, and percentage of the total number of farmers assessed as liable to income tax who have opted for taxation on (a) a notional and (b) an accounts basis, in each of the past three years.
Written Answers. - Farmer Taxation.
430.
Following is the information sought:
|
Year of assessment |
Number of farmers (including trader/farmers) assessed to tax on their farming profits |
Number of full-time farmers i.e. those entitled to opt for notional basis of assessment |
Number (and percentage) of farmers in Col. 2 opting for |
|
|
(i) notional basis |
(ii) Accounts basis |
|||
|
(1) |
(2) |
(3) |
||
|
1975-76 |
9,188 |
7,802 |
2,575 (33%) |
5,227 (67%) |
|
1976-77 |
9,265 |
7,843 |
3,765 (48%) |
4,078 (52%) |
|
1977-78 |
18,854 |
13,252 |
— (40%) |
— (60%) |
Notes:
(1) Farmers who, or whose spouse, are engaged in another trade or profession in addition to farming are assessable to income tax on their farming profits and are included in the figures in column (1). They are precluded from opting for assessment on the notional basis. This explains the differing figures in columns (1) and (2).
(2) As regards 1977-78, full-time farmers were, in the first instance assessed to tax on the notional basis but were given a right of appeal and the right to opt for assessment on the accounts basis. Final figures for that year are not yet available but the information so far available indicates that some 40 per cent accepted assessment on the notional basis and 60 per cent appealed and opted for assessment on the accounts basis.