May 15 is an important date for anyone buying a farm with entitlements
If the farmer in question purchases land and entitlements under the 2014 scheme year, he will benefit from receiving payment on those entitlements in that scheme year. However, while the value of those entitlements will be carried over to 2015, he would not benefit from holding additional hectares.
Entitlements would not be established on the purchased hectares and in 2015, the farmer would hold a small number of high-value entitlements along with surplus land.
