Revenue advises on opportunity to invest in conacre

The Revenue Commissioners have issued a guide to Farming Taxation Measures stemming from last October’s budget and the subsequent enacting legislation, the Finance Act 2014.

On income-averaging, the Budget saw an extension to the period of averaging from three to five years.

On a practical basis, in times of volatility the extended period of averaging should result in a more even level of income subject to tax in each successive year.