Some 444 new farm partnerships were registered with the Department of Agriculture in the past year.
Latest figures show that there were 2,366 active registered farm partnerships in the country on 26 March 2019.
They include 550 former milk production partnerships (MPPs), which ceased to exist, in a legal sense, when milk quotas were abolished on 31 March 2015. Some 29 of the 2,366 are succession farm partnerships.
Benefits
Partnership benefits include preferential stock relief and the support of the collaborative farming grant.
A succession farm partnership includes a tax incentive worth €5,000 to the partnership each year for up to five years during the succession agreement term, until the identified successor reaches the age of 40.
Terms
Under the terms of the scheme, the farmer is required to transfer a minimum of 80% of all assets to the successor between three and 10 years over the term of the succession agreement.
Read more
Farm succession is the ‘elephant in the room’
Your farm: farming in collaboration
Five partnership options for farmers thinking about succession
Some 444 new farm partnerships were registered with the Department of Agriculture in the past year.
Latest figures show that there were 2,366 active registered farm partnerships in the country on 26 March 2019.
They include 550 former milk production partnerships (MPPs), which ceased to exist, in a legal sense, when milk quotas were abolished on 31 March 2015. Some 29 of the 2,366 are succession farm partnerships.
Benefits
Partnership benefits include preferential stock relief and the support of the collaborative farming grant.
A succession farm partnership includes a tax incentive worth €5,000 to the partnership each year for up to five years during the succession agreement term, until the identified successor reaches the age of 40.
Terms
Under the terms of the scheme, the farmer is required to transfer a minimum of 80% of all assets to the successor between three and 10 years over the term of the succession agreement.
Read more
Farm succession is the ‘elephant in the room’
Your farm: farming in collaboration
Five partnership options for farmers thinking about succession
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SHARING OPTIONS: