Pre-Budget Submissions

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Pre-Budget Submissions

IFA Pre-Budget Submissions

IFA develops an annual Pre-Budget Submission, which outlines issues relevant to agriculture and farm families, and identifies public expenditure and taxation adjustments required to improve the competitiveness and structure of the agriculture sector.

This report is submitted to the Minister for Finance and is used by IFA officers at national and local level to lobby Government and other elected representatives in advance of the Budget.

IFA also makes submissions in response to Finance Bills and other published legislation – take a look.

Latest Pre-Budget Submission – Budget 2018

The IFA Pre-Budget Submission 2018 calls for expenditure measures to directly support farm incomes and taxation measures to tackle income volatility.

Expenditure priorities 

  • Provision of government-supported low-cost loans for farming enterprises, to fund both ongoing working capital requirements and on-farm investment
  • Increased funding for the ANCs to reach €225m, commencing the process of restoring ANC payments to 2008 levels
  • Increased funding of €25m for the BDGP and a further €5m funding allocated to the Sheep Welfare Scheme, to support the delivery of additional measures
  • An increase in funding for the Fair Deal Scheme to remove the discrimination against farming and other small business assets in the means assessment.

Taxation priorities

  • Income volatility – extension of income averaging where farmer/spouse has additional self-employed income, greater flexibility on ‘step-out’, and provision of a deposit scheme
  • Earned Income Tax Credit to be increased to the same level as the PAYE credit
  • Retention of consanguinity relief for stamp duty, and extension of relief to all transfers undertaken within Registered Farm Partnership structure
  • Farmland under solar panel infrastructure to be classified as a qualifying asset for the purpose of assessment for relief from Capital Acquisitions Tax upon transfer
  • Reduction in the VAT rate on animal vaccines as a means to improve herd health.

Read the full submission

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