Kieran Coughlan: What the budget means for farmers and farming families

Income tax savings, changes to capital taxes and new restrictions on agricultural relief will benefit farmers

Finance Minister Jack Chambers said the changes to capital taxes were to ensure the intergenerational transfer of Irish family businesses continues to be supported by the tax system. Picture: Sam Boal/Collins

This year’s budget gave a good sprinkling of benefits to practically all cohorts of the population, from the old to the young and those in between. 

The tax savings to an average worker or self-employed person earning over €45,000 will amount to €814 as a result of increases to tax credits and tax bands. There were additional improvements in respect of incapacitated child credits, rent credits and home carer credits.