The Irish Creamery Milk Suppliers Association (ICMSA) has called on the Government and Minister for Finance to ensure the renewal of three critical tax measures for farmers in the upcoming budget.
The young trained farmer stamp duty relief, farm consolidation relief and the accelerated capital allowance (ACA) for slurry storage are set to expire at the end of the year.
ICMSA farm business committee chair Pat O’Brien said these supports are not optional extras, they are essential tools for keeping family farms viable.
“We keep hearing about the need for generational renewal. These reliefs are practical ways to support that goal and removing them would send completely the wrong message,” he said.
“[The] ICMSA would argue that long-term planning by farm families is undermined by uncertainty around key supports and that permanence would reflect the long-term nature of land management and succession.”
Supports
The ICMSA stressed that these reliefs are important to achieve the Government’s policy goals around generational renewal.
According to the association, the young trained farmer relief has played a central role in reducing the financial burden of succession, while farm consolidation relief helps address the ongoing issue of fragmented land holdings.
Meanwhile, with planning exemptions due in autumn, possible increases in slurry storage requirements and pressure from the nitrates regime, the ICMSA said the ACA for slurry storage is a necessary support.
“We are also calling for the stamp duty and consolidation reliefs to be placed on a permanent footing,” said O’Brien.
“Farmers are being asked to invest tens of thousands of euros just to stand still. They’re not expanding or upgrading - they’re complying with ever-changing targets and limits. The ACA offers some financial respite and must be retained.”
Read more
Submission seeks support against uncertain backdrop – IFA
ICMSA calls for support for active farmers
The Irish Creamery Milk Suppliers Association (ICMSA) has called on the Government and Minister for Finance to ensure the renewal of three critical tax measures for farmers in the upcoming budget.
The young trained farmer stamp duty relief, farm consolidation relief and the accelerated capital allowance (ACA) for slurry storage are set to expire at the end of the year.
ICMSA farm business committee chair Pat O’Brien said these supports are not optional extras, they are essential tools for keeping family farms viable.
“We keep hearing about the need for generational renewal. These reliefs are practical ways to support that goal and removing them would send completely the wrong message,” he said.
“[The] ICMSA would argue that long-term planning by farm families is undermined by uncertainty around key supports and that permanence would reflect the long-term nature of land management and succession.”
Supports
The ICMSA stressed that these reliefs are important to achieve the Government’s policy goals around generational renewal.
According to the association, the young trained farmer relief has played a central role in reducing the financial burden of succession, while farm consolidation relief helps address the ongoing issue of fragmented land holdings.
Meanwhile, with planning exemptions due in autumn, possible increases in slurry storage requirements and pressure from the nitrates regime, the ICMSA said the ACA for slurry storage is a necessary support.
“We are also calling for the stamp duty and consolidation reliefs to be placed on a permanent footing,” said O’Brien.
“Farmers are being asked to invest tens of thousands of euros just to stand still. They’re not expanding or upgrading - they’re complying with ever-changing targets and limits. The ACA offers some financial respite and must be retained.”
Read more
Submission seeks support against uncertain backdrop – IFA
ICMSA calls for support for active farmers
SHARING OPTIONS