Farm Ireland

Monday 19 February 2018

IFA push for Budgetary tax breaks

Eddie Downey, IFA president
Eddie Downey, IFA president
Darragh McCullough

Darragh McCullough

Extra funding to allow the target figure of 50,000 farmers access the full range of GLAS measures should be included in today's Budget, according to the IFA.

It also argues that taxpayers' money should be allocated to TAMS II to facilitate grain farmers and sheep farmers looking to complete fencing.

"After a year of intense discussions with the Departments of Finance and Agriculture, and meetings with relevant Ministers, I am hopeful for significant progress on our tax proposals," said IFA president Eddie Downey.

He added that, in addition to maintaining existing farm taxation reliefs, the IFA's proposals for equity in income tax for the self-employed and tax incentives to assist farm succession planning and averaging of income from forestry were necessary.

The lobby group also looked for measures to assist farmers deal with extreme income volatility and capital acquisitions tax through higher thresholds and maintaining the 90pc agricultural relief.

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