Capital taxes and reliefs are top of the agenda for young farmers, with Macra 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 against income tax.
Macra’s submission urges:
Macra says amendments to the Rural Development Programme should focus on supporting grazing infrastructure under the TAMS scheme and is urging:
Macra national president Seán Finan said: “Our pre- budget submission focuses on strengthening the future for young farmers and rural youth.
“Our proposals set out the building blocks that need to be put in place in the budget to create an environment within which young farmers can establish themselves in the industry and have a successful career.
“Our document sets out various taxation changes and measures as well as other proposals dealing with volatility, access to finance, access to education, farm safety.
“As a representative body for rural young people, we are calling for an increase in our youth sector funding as well as highlight other rural youth issues.”
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