Vol. 421 No. 8
77 Mr. Hogan asked the Minister for Finance if his attention has been drawn to the fact that tax relief does not apply to the leasing of agricultural land by farmers over 55 years of age to relatives of the lessor; and if he will make a statement on the matter.
A lessor of agricultural land who is aged 55 or over or who is permanently incapacitated is exempt from income tax on some or all of his leasing income subject to certain conditions. In line with other reliefs in the tax code, this exemption does not apply where the lessors and lessees are connected. A connected person would include a husband, wife or relative of the lessor. If the exemption were not limited in this way there would be substantial scope for abuse arising from non-genuine lettings. In the circumstances, I have no plans to make any changes in this area.
