Written answers

Wednesday, 3 December 2008

Department of Agriculture and Food

Agriculture Policy

9:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 243: To ask the Minister for Agriculture, Fisheries and Food if he has proposals to encourage young farmers into agriculture and food production; and if he will make a statement on the matter. [44306/08]

Photo of Brendan SmithBrendan Smith (Cavan-Monaghan, Fianna Fail)
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There are a significant number of measures in place to encourage the early transfer of farms and the entry of young farmers into the sector. These include: 100% stamp duty relief on transfers of agricultural land and buildings to young trained farmers; 100% stamp duty relief on land purchased by young trained farmers; 100% stock relief for four years for young trained farmers; 90% agricultural relief from Capital Acquisitions Tax; Full Capital Gains Tax Retirement relief on disposals to family members; Capital Gains Tax — Retirement relief on farm disposals to third parties up to the value of €750,000 and marginal relief on disposals above this threshold; Capital Gains Tax — Retirement Relief on lands which had been transferred in the Early Retirement Scheme;

A provision was made in the Finance Act 2007 to allow for farmers who had their farmland leased-out prior to its disposal to benefit from CGT retirement relief (subject to certain conditions).

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