Macra news: Capital taxes, reliefs top Macra’s agenda

Capital taxes and reliefs are top of the agenda for young farmers, with Macra na Feirme calling for the introduction of a Capital Allowance system similar to the UK in its pre-budget submission.

The scheme would allow farmers to write off larger amounts of capital expenditure in the first year against income tax.

The future of farming relies on young farmers who need the necessary resources and supports to develop their farm business and fulfil the expectations of Food Wise 2025.