Nicky McFadden (Longford-Westmeath, Fine Gael)
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Question 118: To ask the Minister for Agriculture, Food and the Marine the tax reliefs currently available to young farmers; and his views on the importance of a tax system that is favourable to new entrants starting out in the farming sector. [31607/11]

Simon Coveney (Cork South Central, Fine Gael)
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The current Irish taxation system provides a number of reliefs specifically for young trained farmers. The main reliefs are

· 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; and

· 100% stock relief for young trained farmers.

To qualify for these reliefs a farmer must:

a) be under 35 years of age on the date of execution of the deed of transfer and

b) have attained one of the necessary qualifications and, where required, is the holder of the appropriate certificate(s) awarded by the Further Education and Training Awards Council (FETAC) in respect of Teagasc approved training courses.

There are a number of other conditions imposed by the Revenue Commissioners, who have primary responsibility for administering these reliefs.

Young farmers can of course also avail of other tax reliefs that benefit the general farming sector. These include

rental income exemption thresholds to encourage the long-term leasing of farmland;

Agricultural relief from Capital Acquisitions Tax;

Capital Gains Tax retirement relief; and

Tax relief on the dissolution of farm partnerships. These reliefs are again primarily the responsibility of the Revenue Commissioners and the Minister for Finance. I want to encourage more young people to become involved in farming and I am delighted to see the renewed interest in the sector. I will continue to encourage new entrants, greater use of farm partnerships and the timely transfer of farms to the younger generation.