New law could hit farm inheritance, says SF

Farmers forced to find work abroad due to the recession could see their inheritance rights hit, Sinn Féin has warned.

The party’s Caoimhghín Ó Caoláin urged the Government to amend the Finance Bill to stop families being hit with capital acquisitions tax when farms are transferred.

He objected to a provision which states that the inheritor, or acquirer, would have to be in a position to continue actively farming the holding for six years or to lease it out for the same period.