Macra na Feirme calls for State to support young farmers
Catherine Buckley, president, said the age profile of Ireland’s agricultural industry is poor and land fragmentation has also increased dramatically.
“It is essential the Government give a positive signal that they are committed to supporting young people who choose farming as a career,” she said.
Ms Buckley was outlining Macra’s pre-budget submission which focuses on three key young farmer-related reliefs: stamp duty; stock; and land restructuring.
She said these targeted reliefs are effective as they directly assist active young farmers who are establishing their businesses.
“Stamp duty relief is a crucial incentive in encouraging the early transfer of land to committed and progressive young trained farmers.
”Presently young trained farmers who are under 35 and acquire agricultural land by inheritance, gift or purchase are eligible for stamp duty relief. This relief is due to expire on December 31,” she said.
Ms Buckley called on the Government to extend this relief in the October 14 Budget for a further five years “as it is vital in encouraging the early transfer of land to committed young trained farmers”.
She said 100% stock relief for young trained farmers and 25% stock relief for all other farmers must also be extended in the Budget for a further five years.
“This measure aids young farmers to build up stock numbers during their first four years in production and allows all farmers to write off 25% of the increase in the value of their stock,” she said.
Ms Buckley said Macra is proposing the introduction of relief to allow young trained farmers restructure their land without being liable for transfer taxes.
“Farm fragmentation is one of the main challenges facing agriculture in Ireland and it is vital that the tax code facilitates young trained farmers in restructuring their holdings and increasing their agricultural productivity and sustainability,” she said.
