You are viewing the content for Tuesday 7 February 2006

Macra hails tax exemptions for land

By Ray Ryan
MACRA na Feirme has welcomed changes to the Finance Act providing tax exemptions for long-term land leasing.

Macra president Colm Markey said the Revenue Commissioners had interpreted the rental element of the single farm payment as not qualifying for the relief.

But the inclusion of the payment element for tax relief will now encourage individuals to let their lands to young farmers on a long-term basis. "For most young farmers, buying land is not an affordable option," he said.