Stamp duty relief and stock relief for young trained farmers and farm partnerships will continue to the end of 2022.

Currently, a zero rate of stamp duty applies to farmers who are under 35 years of age and who have satisfactorily attended a course as set out by the Revenue Commissioners.

The exemption is due with many conditions and the relief applies to sales and gifts where no power of revocation exists, and runs until 31 December 2021 – now extended to December 2022.

A lifetime ceiling of €70,000 applies to the cash value of aid received under the stamp duty, stock relief and succession farm partnership schemes.

The stamp duty exemption is confined to startup situations. These supports are deemed to be a State aid by the EU, with the exemption allowing them to exist due to expire on 31 December 2022.

Minister Paschal Donohoe said he has been advised by the Department of Agriculture that it is “confident that reliefs of this nature will continue to be considered an acceptable form of State aid under the terms of any revised regulation”.

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Budget 2022: everything farmers need to know