Dáil Éireann Debate, Wednesday - 7 October 2015
69. Deputy Éamon Ó Cuív asked the Minister for Finance the number of farmers, in tabular form, who availed of the various tax reliefs specifically in the income tax, stamp duty, capital gains tax and inheritance tax codes for farmers for the most recent year that this information is available; the cost of each relief to the Exchequer for that year; and if he will make a statement on the matter. [34948/15]
Amharc ar fhreagraI 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 |
|
Income Tax |
General Stock Relief |
8,950 |
5.2 |
|
Income Tax |
Stock Relief for Young Trained Farmers |
310 |
1.1 |
|
Income Tax |
Stock Relief for Registered Farm Partnerships |
30 |
0.1 |
|
Income Tax |
Exempt Rental Income from Leasing of Farm Land |
4,370 |
7.3 |
|
Capital Gains Tax |
Retirement Relief within the Family |
211 |
117* |
|
Capital Gains Tax |
Retirement Relief outside the Family |
341 |
53* |
|
Capital Acquisitions Tax |
Agricultural Relief** |
1,581 |
164 |
|
Stamp Duty |
Young Trained Farmers Relief |
722 |
4.7 |
* Figures reflect the disposal consideration amount rather than the tax cost.
** This relief may be claimed by non-farmers in some cases.
