Dáil Éireann Debate, Thursday - 27 March 2014
170. Deputy Michael Healy-Rae asked the Minister for Agriculture, Food and the Marine his views on correspondence (details supplied) regarding long-term leasing income tax exemption; and if he will make a statement on the matter. [14562/14]
View answerI have on-going contact with the Minister for Finance to ensure that tax policy reflects the Government’s commitment to agriculture and, in particular, to the objectives of smart, green, growth outlined in the Food Harvest 2020 strategy. A review of tax measures in the farming sector, a joint initiative between my Department and the Department of Finance, was announced in Budget 2014 and is now under way.
This particular measure is not meant as a block exemption for rental income from income tax for all landowners, but is specifically designed to encourage the long-term leasing of farmland by landowners over 40 years of age. It facilitates access to land and is designed to assist new entrants to farming and younger farmers. The effectiveness of this measure, and that of all other farm taxation measures, will be assessed as part of the ongoing agri-taxation review.
