Patrick O'Donovan
Question:903. Deputy Patrick O'Donovan asked the Minister for Agriculture, Food and the Marine the position regarding the enhanced 50% stock relief to farm partnerships in view of budget 2013. [46405/13]
View answerTuesday, 5 November 2013
Questions (903)
Written answers
This measure was announced in Budget 2012 and provides for a 50% stock relief on income tax for participants in registered farm partnerships. Before it could be introduced, the relief was subject to approval by the EU Commission under State Aid Rules. It has been confirmed that over a 3 year period the amount of relief that can be claimed under this measure, combined with a number of other schemes and measures in operation under the EU Agricultural de minimis Regulation, is limited to €7,500. The relief will now commence after the enactment of the Finance Bill giving effect to Budget 2014.
It should be noted that the higher 50% stock relief is only available to registered farm partnerships, which in the case of the 2012 tax year were those persons that participated in a registered Milk Production Partnership.
Question No. 904 withdrawn.