I am advised by the Revenue Commissioners that farmers may avail of a number of tax reliefs. The table below shows the main reliefs used by farmers, and their cost to the Exchequer, for which data are available to Revenue.
Tax
|
Relief
|
Numbers Availing
|
Tax Cost €m
|
Year
|
Income Tax
|
General Stock Relief
|
8,950
|
5.2
|
2013
|
Income Tax
|
Stock Relief for Young Trained Farmers
|
310
|
1.1
|
2013
|
Income Tax
|
Stock Relief for Registered Farm Partnerships
|
30
|
0.1
|
2013
|
Income Tax
|
Exempt Rental Income from Leasing of Farm Land
|
4,370
|
7.3
|
2013
|
Capital Gains Tax
|
Retirement Relief within the Family
|
211
|
117*
|
2013
|
Capital Gains Tax
|
Retirement Relief outside the Family
|
341
|
53*
|
2013
|
Capital Acquisitions Tax
|
Agricultural Relief**
|
1,581
|
164
|
2014
|
Stamp Duty
|
Young Trained Farmers Relief
|
722
|
4.7
|
2014
|
* Figures reflect the disposal consideration amount rather than the tax cost.
** This relief may be claimed by non-farmers in some cases.