IFA President and Tipp farmer Tim Cullinan says tax relief measures in place to help farmers, need to be extended in Tuesday’s budget.
The Irish Farmers’ Association says the current Capital Acquisitions Tax relief rate of 90 per cent for agricultural property gifted to, or inherited by active farmers needs to remain in place.
The association is also calling for new dedicated funding to support farmers to produce renewable energy.
Cullinan, says agricultural relief rates need to stay in place to ensure farming land can be passed down to the next generation:
” All the taxation reliefs that are in place at the moment that they would be maintained and rolled over… this is critically essential for generational renewal, you passing the land on from one generation to the next.”