Budget promises ‘huge changes’ in farm tax reliefs

Agriculture Minister Simon Coveney has revealed there will be “huge changes” in tax reliefs for agriculture, in next month’s budget.

Up to 12 changes in tax policy will make it the most important budget yet for tax measures in the farming sector, following the review by the Departments of Agriculture and Finance, which was announced in the 2014 budget.

Among the key policy areas identified for examination in this review are encouraging and attracting young farmers and new entrants to farming, and succession and earlier lifetime transfers within families.