Michael Cahill (Kerry, Fianna Fail)
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177. To ask the Minister for Finance the details of the tax initiatives he is putting in place to support farm succession; and if he will make a statement on the matter. [6922/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, there are currently a substantial range of tax measures in place which support farm succession.

These include Capital Acquisitions Tax (CAT) agricultural relief, which is available on certain gifts and inheritances of agricultural property. The primary policy rationale for agricultural relief is to promote the intergenerational transfer of family farms and ensure they continue to be actively farmed.

Capital Gains Tax retirement relief is available in respect of the intergenerational transfer of farm trades – the scope of relief available is dependent on the date of the transfer, the individual’s age at the date of the transfer and the aggregated value of the assets transferred.

In regards to Income Tax, a succession farm partnership tax credit is available by way of an annual tax credit worth up to €5,000 per annum for a period of five years. An enhanced stock relief is available at the rate of 50% for farmers who are partners in a “Registered Farm Partnership”. There is also an enhanced rate of stock relief for young trained farmers of 100%. Each relief is subject to certain conditions being satisfied by the claimant.

Stamp Duty reliefs to support farm succession include an exemption from Stamp Duty on certain transfers of land to young trained farmers and “consanguinity relief”, which reduces from 7.5% to 1%, the Stamp Duty payable on certain transfers of land between family members.

An independent Commission on Generational Renewal in Farming is examining all the factors that contribute to the current age demographics in the farming sector and will report to the Minister for Agriculture before the end of June this year.

Any further tax initiatives that may be proposed to support farm succession will be examined in the context of tax expenditure guidelines and must be balanced against competing demands.