Young farmer tax reliefs to be reviewed

Young farmers enjoy certain reliefs and benefits in order to encourage more young people to enter the agriculture sector.

Hannah Quinn-Mulligan

30 May 2018

Tax reliefs have helped young people get into farming. \ Ramona Farrelly

Transfers of agricultural land and stock relief for young trained farmers are set to be reviewed at the end of 2018.

Young trained farmers currently pay a lower rate of tax on transfers of agricultural land, and can avail of 100% stock relief, but the incentives both fall under sunset clauses which are set to be reviewed, according to Minister for Finance Paschal Donohoe.

Stock relief

Minister Donohoe stated in response to a parliamentary question, that stock relief cost the Exchequer €6.1m in 2015, and relief on transfers of agricultural land cost the Exchequer €4.1m in 2016.

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