Dáil Éireann Debate, Wednesday - 7 October 2020
265. Deputy Colm Burke asked the Minister for Agriculture, Food and the Marine if consideration will be given to extending tax relief on the leasing of farmland to include agreements between parents and children who are young trained farmers up to 30 years of age; and if he will make a statement on the matter. [29038/20]
Amharc ar fhreagraWhile taxation policy is primarily the responsibility of the Minister for Finance, our two Departments work closely to ensure it is consistent with the Government's priorities for the agrifood sector. The ‘Agri-taxation Review’ put in place a comprehensive taxation strategy for the sector with specific policy objectives to increase the mobility and the productive use of land; assist succession; and complement wider agriculture policies and schemes.
The “Exemption of Certain Income from Leasing of Farmland” measure encourages longer-term leases of farmland, thereby increasing the mobility and the productive use of land. While leases between family members are not eligible for this relief, it should be noted that there is a wide range of measures to assist succession and the transfer of family farms such as: Stamp Duty Consanguinity Relief; Stamp Duty Exemption on Transfers of Land to Young Trained Farmers; Agricultural Relief from Capital Acquisitions Tax and Retirement Relief from Capital Gains Tax, all of which support transfers of land between parents and children. Also, the Succession Farm Partnerships Scheme provides an income tax incentive to encourage farmers to transfer the farm business to their identified farming successor or successors.
