Question asked:


I have a client who is farming part of his land and the other part he has set for a number of years on a yearly basis. the client is over 60. can he lease part of the land on 5 lease and claim the tax relief even if he hasn't farmed this land for a number of years and is still part-time farming

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Posted by (Questions: 13, Answers: 1)
Asked on 21 March 2017 8:49 am
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In short, yes.
With effect from 1 January 2015 there is no age restriction on the lessor. Also there is no requirement that the lessor be a farmer.
Some of the conditions to qualify for the relief:
The farm land must be in the State.
Leases between close relatives do not qualify.
Qualifying lease is a lease of farm land which is in writing or evidenced in writing, is for a definite term of 5 years or more, and is made on an arm’s length basis between one or more qualifying lessors and one or more qualifying lessees.

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Posted by (Questions: 16, Answers: 719)
Answered on 23 March 2017 3:21 pm