Dáil Éireann Debate, Tuesday - 13 November 2018
157. Deputy Alan Kelly asked the Minister for Finance if he has announced, or his plans to announce, changes to capital gains tax or capital acquisitions tax regarding solar panels on farmland as part of budgetary measures; and if he will make a statement on the matter. [46658/18]
View answerFinance Act 2017 amended sections 598 of the Taxes Consolidation Act 1997, and section 89 of the Capital Acquisitions Tax Consolidation Act 2003 to allow that the leasing of agricultural land for solar energy production may be considered qualifying agricultural activity for CGT retirement relief and CAT agricultural relief. These measures apply to disposals made on or after 1 January 2018 where 50 per cent or less of the total area of the leased land was used for that purpose.
As such CGT retirement relief and CAT agricultural relief currently provide for solar panels on agricultural land to be considered qualifying assets if the relevant conditions of the respective reliefs are met.
