Written answers
Wednesday, 7 October 2015
Department of Finance
Tax Reliefs Data
Éamon Ó Cuív (Galway West, Fianna Fail)
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69. To ask the Minister for Finance for the number of farmers, in tabular form, who availed of the various tax reliefs specifically in the income tax, stamp duty, capital gains tax and inheritance tax codes for farmers for the most recent year that this information is available; the cost of each relief to the Exchequer for that year; and if he will make a statement on the matter. [34948/15]
Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that farmers may avail of a number of tax reliefs. The table below shows the main reliefs used by farmers, and their cost to the Exchequer, for which data are available to Revenue.
| Tax | Relief | Numbers Availing | Tax Cost €m |
|---|---|---|---|
| Income Tax | General Stock Relief | 8,950 | 5.2 |
| Income Tax | Stock Relief for Young Trained Farmers | 310 | 1.1 |
| Income Tax | Stock Relief for Registered Farm Partnerships | 30 | 0.1 |
| Income Tax | Exempt Rental Income from Leasing of Farm Land | 4,370 | 7.3 |
| Capital Gains Tax | Retirement Relief within the Family | 211 | 117* |
| Capital Gains Tax | Retirement Relief outside the Family | 341 | 53* |
| Capital Acquisitions Tax | Agricultural Relief** | 1,581 | 164 |
| Stamp Duty | Young Trained Farmers Relief | 722 | 4.7 |
** This relief may be claimed by non-farmers in some cases.
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