Written answers
Wednesday, 17 September 2014
Department of Finance
Agri-taxation Issues
Éamon Ó Cuív (Galway West, Fianna Fail)
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309. To ask the Minister for Finance the details of all farmer specific tax breaks available in 2013; the number of farmers who availed of each tax scheme in 2013; the estimated cost of each scheme in 2013; and if he will make a statement on the matter. [34475/14]
Michael Noonan (Limerick City, Fine Gael)
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In October 2013 I announced the setting up of a review of the various agri-taxation measures. A public consultation process was undertaken and a number of stakeholder meetings were held. The review is on-going and it is hoped that a report will be made available in mid October.
I am informed by the Revenue Commissioners that the following tables show farmer specific tax reliefs, the numbers availing of each scheme and associated cost. These are shown for 2013 where available. (Income Tax returns for tax year 2013 are not due to be filed until later this year).
There are a number of reliefs where detailed information is not required to be returned to Revenue and therefore no costing is readily available without a detailed review of case records by the Commissioners. I am informed that the agri-taxation review referred to above uses information from a variety of sources to estimate costs for a wider selection of farmer tax reliefs.
Income Tax
| Relief available in 2013 | Numbers of farmers who availed in 2013 | Estimated Costs of reliefs in 2013 |
|---|---|---|
| Section 666 Taxes Consolidation Act 1997 (TCA) - 25% General Stock Relief | Not yet available | Not yet available |
| Section 667B TCA - 100% Stock Relief for Young Trained Farmers | Not yet available | Not yet available |
| Section 667C TCA - 50% Stock Relief on Income Tax for Registered Farm Partnerships | Not yet available | Not yet available |
| Section 656 TCA - Relief for stock transfer due to discontinued farming trade | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Section 664 TCA- Exemption of certain income from leasing of farm land | Not yet available | Not yet available |
| Section 657 TCA - Income Averaging | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Section 668 TCA - Compulsory Disposal of Livestock: Income Averaging & Stock Relief | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Section 658 TCA - Capital Allowances Farm Buildings and Other Works | Not yet available | Not yet available |
| Section 669B - Capital Allowances Milk Quota Purchase | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Section 664A TCA - Relief for increase in carbon tax on farm diesel | Information not readily available from Revenue records | Information not readily available from Revenue records |
Capital Acquisitions Tax
| Relief available in 2013 | Numbers of farmers who availed in 2013 | Estimated Costs of reliefs in 2013 |
|---|---|---|
| Section 89 Capital Acquisitions Tax Consolidation Act 2003 - Agricultural Relief for gift or inheritance of agricultural property. | 1,590 | €70m |
Capital Gains Tax
| Relief available in 2013 | Numbers of farmers who availed in 2013 | Estimated Costs of reliefs in 2013 |
|---|---|---|
| Retirement relief | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Relief on dissolution of farming partnerships | Information not readily available from Revenue records | Information not readily available from Revenue records |
| Relief for farm restructuring | Information not readily available from Revenue records | Information not readily available from Revenue records |
Stamp Duty
| Relief available in 2013 | Numbers of farmers who availed in 2013 | Estimated Costs of reliefs in 2013 |
|---|---|---|
| Transfers to Young Trained Farmers (Section 81AA, Stamp Duties Consolidation Act 1999) | 718 | €3.8m |
| Certain family farm transfers (Section 83B, SDCA 1999) | 20 | €0.1m |
VAT
| Relief available in 2013 | Numbers of farmers who availed in 2013 | Estimated Costs of reliefs in 2013 |
|---|---|---|
| VAT rebate on Farm Buildings, Land Drainage and Reclamation for VAT unregistered farmers | 21,890 | €50m |
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