A number of agri taxation measures were extended in Budget 2019.
The income averaging restriction has been lifted. Previously, this did not allow farmers with additional self-employed income (for either themselves or their spouses) to participate.
The following reliefs have been extended for a further three years:
Stamp duty exemption on transfers of land to young trained farmers.25% general stock relief on income tax.100% stock relief on income tax for certain young trained farmers.50% stock relief on income tax for registered farm partnerships.
A number of agri taxation measures were extended in Budget 2019.
The income averaging restriction has been lifted. Previously, this did not allow farmers with additional self-employed income (for either themselves or their spouses) to participate.
The following reliefs have been extended for a further three years:
Stamp duty exemption on transfers of land to young trained farmers.25% general stock relief on income tax.100% stock relief on income tax for certain young trained farmers.50% stock relief on income tax for registered farm partnerships.
SHARING OPTIONS: