Cahill welcomes extension of Current Capital Gains Tax Relief for farmers to Stamp Duty


Cahill said that the 6% Stamp Duty rate “severely threatened the viability” for many farmers to purchase additional land to increase productivity.

Cahill welcomes extension of Current Capital Gains Tax Relief for farmers to Stamp Duty

  • ADDED
  • 2 years ago

Cahill said that the 6% Stamp Duty rate “severely threatened the viability” for many farmers to purchase additional land to increase productivity.

Fianna Fáil’s Jackie Cahill TD, has said that the Government’s support to change the 2017 Finance Bill, to extend the current Capital Gains Tax Relief exemption for farmers to Stamp Duty is “welcome”.

Stamp Duty rates increased from 2% to 6% as part of Budget 2018, with new rates in effect since midnight of October 10th 2017.

“There currently is a Capital Gains Tax Relief for farmers wishing to re-organise and consolidate their farms. When a farmer sells land that is far away from the core farm and replaces it with land closer to home, relief is given on the Capital Gains on the sale of the initial piece of land.” Jackie Cahill TD, Fianna Fáil’s Junior Spokesperson on Food & Horticulture said in a press statement.

Cahill said that the 6% Stamp Duty rate “severely threatened the viability” for many farmers to purchase additional land to increase productivity.

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