Extension of existing reliefs

A number of reliefs that were due to expire at the end of 2015 are being extended for another three years, namely:

• General Stock Relief
• Stock Relief for Young Trained Farmers
• Stock Relief for Registered Farm Partnerships
• Stamp Duty exemption for Young Trained Farmers

Farm Transfer Partnerships

A new Farm Succession Transfer Partnership Model is being introduced. This is subject to EU approval but is proposed to include an Income Tax credit of up to €5,000 per annum to the partnership for up to five years.

This will enable an existing farmer to enter into a partnership with a younger farmer so that knowledge and control of the farm can gradually be transferred with the aim of having the entire farm transferred to the younger farmer within a period of ten years.

Excise Duty on Micro-Breweries

Currently beer produced in micro-breweries qualifies for a 50% reduction in excise duty. It is available in the form of a rebate to the micro-brewery; in future it will also be available upfront.