Seanad debates
Tuesday, 11 November 2003
Direct Payments Decoupling: Statements.
Farm organisations such as Macra na Feirme – it attended the joint committee this afternoon – and the IFA support an amendment to current tax relief arrangements for the leasing of land. In 1996, the Government introduced a tax relief on income from long-term land leasing. Under this scheme, farmers over 55 years of age or those incapacitated and under 55 years of age are entitled to earn €5,080 per annum, tax free, if they lease their land for between five and seven years. If they lease the land for more than seven years they are entitled to earn €7,620. Would the Minister support the idea of amending the current scheme to include farmers under 35 years of age – I am referring to trained farmers? This would provide an option for farmers who wish to expand production and increase scale, but who cannot afford to buy additional land at current prices. More secure long-term land leases which would provide safeguards for the landowner and the lessee are required. Longer term leasing also provides young farmers with the ability to plan ahead, something they need. They also need assurances that this scheme will run until 2013 and not be radically overhauled within that period.
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