News & Press Room

Macra National President, Alan Jagoe has strongly welcomed the retention of the current rate of 90% Agricultural relief under the Capital Acquisition Tax system, which encourages the transfer of farmers to younger farmers.

Macra National President, Alan Jagoe, said, "We welcome that existing measures in the taxation code aimed at encouraging young farmers to become established have been retained. Agriculture is playing a leading role in the country’s economic recovery and it is worrying that less than 7% of all farmers are under 35 years of age. With this in mind, measures encouraging more young farmers into the industry have to be welcomed."

He continued, "Farming is a capital intensive, low profit business, however, its output is of great economic importance. The existing reliefs including stamp duty relief, agricultural relief, retirement relief and stock relief enable young farmers to set up their enterprises without incurring prohibitive tax liabilities in their early years."