'Tax breaks will boost solar potential': ACA
The tax exemption on five-year long-term leases should be extended in cases where the land is being rented to green energy solar farms, the Agricultural Consultants Association (ACA) has urged.
The lease exemption is among a number of measures called for by the ACA in a pre-Budget submission to the Government.
Martin O'Sullivan, a member of the ACA taxation committee, said taxation policy can have a significant influence in encouraging succession. "Considerable progress has been made with the measures contained in the 2015 Budget, but there is considerable scope for further improvement," he said.
The body has also called for tax exemption on five-year leases to be extended to try and encourage succession in cases of registered leases between family members were the person renting is a young trained farmer.
It called for the retention of the current agricultural relief thresholds and the extension of stock relief measures.