Budget 2015 Agri Business: FG uses budget to shore up farming base

The new measures unveiled by Michael Noonan are likely to have a positive impact on the sector’s productivity, writes Pat O’Keeffe.

19th October, 2014
Irish farmers will benefit from the abolition of European milk quotas. Picture: Getty

For farming and the Irish agriculture sector, Budget 2015 was quite significant in that it contained the outcome of a comprehensive 12-month review of agri-taxation measures. The decisions taken have been broadly welcomed by farm organisations, and should positively affect the productivity of the sector.

Firstly, farmers were relieved that existing measures in the areas of capital gains tax and capital acquisitions tax survived the review process unscathed. These generally reduce the tax liability that a...

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