Helping farmers to understand their write-offs benefits everyone

Expenses are not deducted from farmers' tax but rather expenses are allowed as a deduction from taxable profits 

At the top rate of tax, a farmer earning more than about €35,500 of farm profit is paying income tax, PRSI and USC at a combined rate of 52%. File Picture.

Spending money on farm expenses for the sake of reducing tax is at best around 50% tax efficient.

What do I mean by that?