Vol. 501 No. 2
41 Mr. Penrose asked the Minister for Finance if he will insert provisions in the Finance Bill, 1999, that will permit farmers to utilise accelerated capital allowances where they make capital investments in environmental protection facilities; and if he will make a statement on the matter. [27865/98]
Section 659 of the Taxes Consolidation Act, 1997, provides for a special year one allowance of 50 per cent up to an expenditure limit of £30,000 in respect of expenditure incurred between 6 April 1997 and 5 April 2000 on the construction of farm buildings or structures for the control of pollution. The bal ance can be written off at 15 per cent per annum for six years and 10 per cent in the final year.
This allowance is available to farmers who have a farm nutrient management plan in place that has been drawn up by an agency or planner approved by the Department of Agriculture and Food. There are no plans for extending the range of activities or structures generally that qualify for this accelerated relief.
