Written answers
Tuesday, 23 May 2023
Department of Finance
Tax Reliefs
Claire Kerrane (Roscommon-Galway, Sinn Fein)
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235. To ask the Minister for Finance the specific tax reliefs available to farmers which are due to expire in 2023/2024; and if he will make a statement on the matter. [24421/23]
Michael McGrath (Cork South Central, Fianna Fail)
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The following table lists the tax reliefs specific to the farming sector which are due to expire in either 2023 or 2024, including the relevant legislative provision and sunset date:
| Relief | Legislative provision | Sunset |
|---|---|---|
| Stamp Duty Consanguinity Relief on Non-Residential Transfers | Schedule 1 Stamp Duties Consolidation Act 1999 | 31 December 2023 |
| Acceleration of wear and tear allowances for farm safety equipment | Section 285D Taxes Consolidation Act 1997 | 31 December 2023 |
| General Stock Relief | Section 666 Taxes Consolidation Act 1997 | 31 December 2024 |
| Stock Relief on Income Tax for Certain Young Trained Farmers | Section 667B Taxes Consolidation Act 1997 | 31 December 2024 |
| Stock Relief on Income Tax for Registered Farm Partnerships | Section 667C Taxes Consolidation Act 1997 | 31 December 2024 |
Any extension of the reliefs beyond their current sunset dates will fall to be considered by Government as part of the Budget and Finance Bill process.
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