Where Noonan trained his sights

The flat-rate VAT refund is being reduced from 5.2% to 4.8% from Jan 1, 2013.

It is reviewed annually, based on the most recent three-year national figures for farm sales and purchases (see report by Kieran Coughlan on this page).

CGT Relief on Farm Consolidation: Capital gains tax relief will apply where the proceeds of the sale of farm land are reinvested to restructure farms.