Expansion and reform is crucial, says Bryan
Mr Bryan said: “Taxation measures that facilitate farm restructuring and transfers are fundamental to retaining our family farm model through the generations. Stock and other reliefs are critical to increasing output to meet the Food Harvest 2020 targets. Any changes to income tax must be equitable across all sectors.”
He added that the existing taxation reliefs are essential to encourage structural reform and competitiveness in agriculture. These include long-term land-leasing, stamp duty relief, capital gains retirement relief, stocking relief and agricultural relief for farm transfer.