Stamp duty end 'to hurt farm sector'
Published 28/06/2011 | 05:00
The failure to extend the stamp duty relief for farm consolidation past this Thursday will have a negative impact on the development of the agriculture sector, IFA farm business chairman James Kane has said.
"Farm fragmentation is a key structural issue for Irish farming," Mr Kane said.
"The purpose of the relief was to incentivise farmers to reduce the number of parcels of land in their farm or to reduce the distance between these, with the net result making their farm businesses more efficient and profitable."
In its submission to the Minister for Finance on land mobility and restructuring earlier this year, the IFA argued that stamp duty rates for farmland should be reduced across the board, in line with the cut in rates introduced for residential property in this year's Budget.