Macra welcomes ‘positive Budget’ for young farmers

Macra na Feirme national president Seán Finan has welcomed the positive measures for young farmers introduced in the Budget.

  The extension of the young farmer stock relief and the young farmer stamp duty relief in the budget was very welcome, he said.

  Mr Finan, from Ballinlough, said: “The 100 per cent young farmer stock relief aids growth and expansion by allowing young trained farmers to offset an increase in the value of their stock against their tax liability.

  “At the outset, all livestock farmers need to build up a viable production base through livestock. This is a long term investment in the farm and needs to be achieved without a heavy tax burden.”

  On the stamp duty relief, Mr Finan said: “Succession planning is crucial to ensure young farmers and their families can plan the future of the family farm.

  “We believe that is it important to encourage the early transfer of land to committed young and progressive farmers.”

  Macra na Feirme also welcomed the 24 per cent increase in the Group A Capital Acquisition Tax personal threshold up to €280,000 following their representations in this area.

  “This increase reflects the increase in asset values,” said Mr Finan.