Tax relief changes for farmers a concern

Tax reliefs that are in place for agriculture must be retained “all for the good of lifetime, intergenerational transfers”.

Irish Farmers’ Association farm business chair Rose Mary McDonagh and IFA president Tim Cullinan; the IFA is ‘totally opposed’ to any reduction in the 90% rate of agricultural relief from capital acquisition tax. Picture: Finbarr O’Rourke

Altering the tax reliefs for farmers “would stifle the progress and the investment” they have made, Ireland’s largest farm organisation has said.

The report of the Commission on Taxation and Welfare published in recent days has been met with strong criticism, with the Irish Farmers’ Association (IFA) saying it is “totally opposed” to any reduction in the 90% rate of agricultural relief from capital acquisition tax occurring in particular, which has been recommended by the commission.