The news could help farmers hoping to lease sheds. \ Philip Doyle
ADVERTISEMENT
Farms sheds are included in the income tax exemption for long-term leases of farmland. Minister for Finance Paschal Donohoe, clarified the issue in response to a parliamentary question from Fine Gael TD Paul Kehoe.
Minister Donohoe said a condition of the relief was that there was a lease of, “land in the State wholly or mainly occupied for the purposes of husbandry and includes a building (other than a building or part of a building used as a dwelling) situated on the land and used for the purposes of farming that land”.
Assuming all conditions were met, he said if a farmer leased a farm building to another farmer and the building was used for the “purpose of husbandry, which would include the housing of farm animal stock, then the farmer will be entitled to the leasing exemption.”
ADVERTISEMENT
Dairy farmers have driven demand for long-term leasing in recent years.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Farms sheds are included in the income tax exemption for long-term leases of farmland. Minister for Finance Paschal Donohoe, clarified the issue in response to a parliamentary question from Fine Gael TD Paul Kehoe.
Minister Donohoe said a condition of the relief was that there was a lease of, “land in the State wholly or mainly occupied for the purposes of husbandry and includes a building (other than a building or part of a building used as a dwelling) situated on the land and used for the purposes of farming that land”.
Assuming all conditions were met, he said if a farmer leased a farm building to another farmer and the building was used for the “purpose of husbandry, which would include the housing of farm animal stock, then the farmer will be entitled to the leasing exemption.”
Dairy farmers have driven demand for long-term leasing in recent years.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS