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  1. #1
    Factorem Factorem is offline

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    Farmers' Inheritance Tax

    Why do farmers get favourable treatment when it comes to passing on land? Why do middle class suburbanites have to subsidise this practice so as to keep the land of others "in the family"?

    If I lived in Ballsbridge and left my kids a 5m gaff, my children would be taxed to high heaven.
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  2. #2
    20000miles 20000miles is offline
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    I'm not sure what you mean by "subsidise". Do suburbanites actually subsidise the practice of passing on land, or are they just taxed more?

    Also, do you want farmers to be as miserable a the rest of us, or do you want to abolish the inheritence tax?
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  3. #3
    Factorem Factorem is offline

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    Quote Originally Posted by 20000miles View Post
    I'm not sure what you mean by "subsidise". Do suburbanites actually subsidise the practice of passing on land, or are they just taxed more?

    Also, do you want farmers to be as miserable a the rest of us, or do you want to abolish the inheritence tax?
    I just think farmers should pay their fair share. Instead of that, they're always moaning.
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  4. #4
    20000miles 20000miles is offline
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    So a) you want farmers to be as miserable as the rest of us.
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  5. #5
    Sailor Sailor is offline

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    Quote Originally Posted by Factorem View Post
    Why do farmers get favourable treatment when it comes to passing on land? Why do middle class suburbanites have to subsidise this practice so as to keep the land of others "in the family"?

    If I lived in Ballsbridge and left my kids a 5m gaff, my children would be taxed to high heaven.
    There is a big difference between facilitating the continuation of a farm as a going concern and taxing those who inherit what in most cases will be a lottery style bonus. This does not mean that farmers are actually being subsidised - if you pursue this line everybody is subsidising everybody else in some way or other. What I would be interested in knowing is whether the inheritance rules for a farm are different from those that apply to any other small business.
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  6. #6
    hiberniate hiberniate is offline

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    there is roll over relief from CAT. designed, as far as i know to stop farms being sub divided and non viable and promote economies of scale and to avoid situations where the tax payable would leave the farm non viable.

    Same applies to businesses as well, ie roll over relief to keep businesses going after death and continue employing people

    It's all explained here

    Agricultural Relief

    http://www.revenue.ie/en/tax/cat/leaflets/cat4.html
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  7. #7
    Factorem Factorem is offline

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    Quote Originally Posted by Sailor View Post
    There is a big difference between facilitating the continuation of a farm as a going concern and taxing those who inherit what in most cases will be a lottery style bonus. This does not mean that farmers are actually being subsidised - if you pursue this line everybody is subsidising everybody else in some way or other. What I would be interested in knowing is whether the inheritance rules for a farm are different from those that apply to any other small business.
    Farmers with 50 to 100 acres are largely "lifestyle" farmers. They should be made have a minimum turnover and contribute a minimum amount in taxation before they get to inherit tax free.
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  8. #8
    Estragon Estragon is offline
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    Quote Originally Posted by Factorem View Post

    If I lived in Ballsbridge and left my kids a 5m gaff, my children would be taxed to high heaven.
    And, boy, my heart would bleed for you!
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  9. #9
    Sailor Sailor is offline

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    Quote Originally Posted by Factorem View Post
    Farmers with 50 to 100 acres are largely "lifestyle" farmers. They should be made have a minimum turnover and contribute a minimum amount in taxation before they get to inherit tax free.
    Would this not be counter-productive - as lower income farms would pay more inheritance tax. Am I missing something?
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  10. #10
    hiberniate hiberniate is offline

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    Quote Originally Posted by Sailor View Post
    Would this not be counter-productive - as lower income farms would pay more inheritance tax. Am I missing something?
    Nope, just drawing the correct and inevitable conclusion from a half thought through idea

    the OP must have inherited a few bob lately. he seems to have an issue with anyone paying less tax than him

    I'm not a farmer by the way
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