Stamp duty reliefs for Irish farmers

[@andrewmellon5072]

Thank you for another interesting and enjoyable video. The state is very generous to farmers as regards tax relief, direct payments and farm development, building grants. I believe that there should be a national discussion about what amount of acerage and what max herd size is desirable. Non farmers such as meat factory owners, airline executives, bloodstock breeders and others have been buying thousands of acres and availing of subsidies. There is also a trend for very large dairy herds worked in the main by employees, a good number from overseas. If a 1000 cow dairy herd gets tb, which is on the rise, how much will this cost the state at thousand euro a cow minimum to replace.

[@Finderskeepers.]

For the nation to consider the situation they would need to know the situation. From my brief review there is no grant to replace a herd. I understood grants in the main to be funded by the EU and not directly by the Irish tax payer meaning its additional income into the country. It should be assumed any overseas worker has a visa or doesnt need one. The relief when transferring the business is an additional allowance of €500,000 and it applies to all businesses not just farming. No lower tax rate is applied to the balance like the UK does. As a paye worker my current understanding of the system strikes a fair balance between a fair tax system and providing some shelter to protect small family owned businesses rather than the large corporates who might not even pass the tests to get the €500,000 allowance.

[@tc2851]

Really clear explanation of the essential reliefs that allow for effective generational change on farms. Essential that your solicitor really knows the process 👆. But also your accountant and that both operate in lock step to ensure you don’t fall between the cracks. The transferee will require their own solicitor and there are many hidden additional costs that demand immediate payment.

[@danwebb4418]

The poor farmer.🤣🤣🤣

[@IrishFrank22]

I'm a rich farmer and you're not 😊

[@AbcdEfgh-zp1sn]

Its high time farmera pay inheritance on the family home like everyone else

[@Finderskeepers.]

The family home does not qualify for business relief and the same rules apply as for everyone. Farmers or more accurately all privately owned businesses, subject to other tests, can avail of an additional allowance of €500k but otherwise everyone is taxed the same.

[@IrishFrank22]

Family homes are not a business. Get into farming ABC and make the money. It's that easy.