The stamp duty rate increased from 2% to 6% for farmers purchasing farmland in the 2018 budget.
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The Fianna Fáil spokesperson on horticulture and food said: “There currently is a capital gains tax relief for farmers wishing to re-organise and consolidate their farms. When a farmer sells land that is far away from the core farm and replaces it with land closer to home, relief is given on the capital gains on the sale of the initial piece of land.”
The stamp duty rate increased from 2% to 6% for farmers purchasing farmland in the 2018 budget.
Cahill said Fianna Fáil had been lobbying the Government to extend the capital gains tax relief to cover stamp duty.
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“The acceptance by the Government that the capital gains tax exemption for farmers should be extended to stamp duty is welcome,” he said in a statement on Sunday.
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The Fianna Fáil spokesperson on horticulture and food said: “There currently is a capital gains tax relief for farmers wishing to re-organise and consolidate their farms. When a farmer sells land that is far away from the core farm and replaces it with land closer to home, relief is given on the capital gains on the sale of the initial piece of land.”
The stamp duty rate increased from 2% to 6% for farmers purchasing farmland in the 2018 budget.
Cahill said Fianna Fáil had been lobbying the Government to extend the capital gains tax relief to cover stamp duty.
“The acceptance by the Government that the capital gains tax exemption for farmers should be extended to stamp duty is welcome,” he said in a statement on Sunday.
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