Tuesday, 18 May 2021

Ceisteanna (288)

Patricia Ryan

Ceist:

288. Deputy Patricia Ryan asked the Minister for Finance when the overdue farm safety scheme will be launched; the form it will take; and if he will make a statement on the matter. [26301/21]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

At Report stage of the 2020 Finance Bill I introduced a new section to make provision for a Farm Safety and Disabilities Adaptation Equipment Accelerated Capital Allowances (ACA) scheme. Currently, capital allowances are available at 12.5% p.a. over eight years for agricultural equipment generally.  The scheme will provide for ACAs at 50% p.a. over two years for eligible specified farm safety and adaptive equipment for the purpose of preventing accidents or facilitating farmers’ return to work following an accident. The scheme will be subject to a scheme total equipment cost of €5 million p.a. ex VAT.

The section is subject to a commencement order. This was to allow for ensuring compliance with EU State Aid rules and for various operational aspects of the scheme to be developed and put in place. The work to achieve this is currently being undertaken by my Department, the Department of Agriculture, Food and the Marine, and Revenue.

Notwithstanding this, as the scheme is one that will take into account expenditure across a full year, the expectation is that, once the relevant provision is commenced, relief will be available for relevant expenditure incurred in the current year.