Mr Downey said the agricultural sector continues to deliver positive growth in food exports and jobs, which is a real and sustainable return on the Government’s investment in agriculture.
He said the expenditure priorities for farming in Budget 2015 are:
Commencement of contracts for the new agri-environmental GLAS scheme in early 2015, with 30,000 farmers allowed into the scheme in its first year and payments made in 2015;Allocation of €30m for the TAMS scheme in 2015 to fund on-farm investment programmes across all sectors;Funding of €52m for the Beef Data & Genomic Scheme to support the vulnerable suckler sector;Increased capital funding allocations for the horticulture, forestry and aquaculture sectors to achieve output targets and employment growth.Taxation priorities for farming in Budget 2015 are:
Introduction of a Tax Deposit Scheme to better manage income volatility as a result of weather extremes and product price fluctuations;Introduction of a Phased Transfer Partnership model, providing tax relief to farmholders during the defined period of transfer to the next generation of young farmers;Retention of 90% Agricultural Relief to support the transfer of viable family farms;Retention of Pay & File deadline for self-assessed income tax returns and simplification of income tax returns for farmers with low turnover;Simplification of taxation system to reduce cost of compliance on small farm businesses.The IFA will be meeting the Minister for Finance Michael Noonan and the Minister for Public Expenditure Brendan Howlin later this week to discuss the proposals further.
Mr Downey said the agricultural sector continues to deliver positive growth in food exports and jobs, which is a real and sustainable return on the Government’s investment in agriculture.
He said the expenditure priorities for farming in Budget 2015 are:
Commencement of contracts for the new agri-environmental GLAS scheme in early 2015, with 30,000 farmers allowed into the scheme in its first year and payments made in 2015;Allocation of €30m for the TAMS scheme in 2015 to fund on-farm investment programmes across all sectors;Funding of €52m for the Beef Data & Genomic Scheme to support the vulnerable suckler sector;Increased capital funding allocations for the horticulture, forestry and aquaculture sectors to achieve output targets and employment growth.Taxation priorities for farming in Budget 2015 are:
Introduction of a Tax Deposit Scheme to better manage income volatility as a result of weather extremes and product price fluctuations;Introduction of a Phased Transfer Partnership model, providing tax relief to farmholders during the defined period of transfer to the next generation of young farmers;Retention of 90% Agricultural Relief to support the transfer of viable family farms;Retention of Pay & File deadline for self-assessed income tax returns and simplification of income tax returns for farmers with low turnover;Simplification of taxation system to reduce cost of compliance on small farm businesses.The IFA will be meeting the Minister for Finance Michael Noonan and the Minister for Public Expenditure Brendan Howlin later this week to discuss the proposals further.
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