Brendan Smith (Cavan-Monaghan, Fianna Fail)

It is long-standing Government policy to encourage young people to become farmers and substantial tax exemptions apply where young farmers acquire land by way of gift, inheritance or purchase, for the purpose of farming. Some of these are linked to training requirements to encourage expansion and development of a working farm. The tax reliefs include measures across various types of taxation, including income tax, capital acquisitions tax, capital gains tax and stamp duties.

I am regularly in contact with the Minister for Finance on a range of taxation matters of importance to farming, fisheries, forestry and the food industry, including those related to farm transfers and stock relief. Taxation policy is a matter for the Minister for Finance and any decision on these, and all other, tax issues is a matter for the budget.

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