Bernard Allen
Question:140 Mr. Allen asked the Minister for Agriculture and Food her plans to increase land mobility; and if she will make a statement on the matter. [32746/06]
View answerTuesday, 17 October 2006
Questions (62)
Written answers
In order to encourage land mobility, and to reduce the costs of land transfer, the Government already has put in place a number of incentives, these include:
An Early Retirement Scheme pension of up to €13,515 for a period of 10 years on farms transferred by gift, sale or lease.
An installation aid grant of €9,520 for young trained farmers.
Capital Gains Tax — Retirement Relief for farmers over 55 years.
A rental income tax exemption of up to €15,000 for farmers over 40 years who lease out land for a period of 7 years or more.
A rental income tax exemption of up to €10,000 for farmers over 40 years who lease out land for a period of 5 to 7 years.
A 90% Agricultural Relief from Capital Acquisitions Tax.
The provision of full Stamp Duty relief for young trained farmers.
Stamp Duty relief for land swaps between two farmers.
These incentives encourage the early transfer of land and improve the overall level of land mobility. This, in turn, helps improve the availability of land to farmers who wish to enter farming or increase their scale of production.