Tax Relief for Emigrants Returning to Ireland to Farm
By Irish America Staff
April / May 2015
Minister of State Simon Harris clarified a crucial part of the recently-passed finance bill in Ireland which made it clear that members of the diaspora who inherit agricultural property while living abroad do qualify for the capital acquisitions tax agricultural relief so long as they spend at least 50% of their time actively working on the farm.
Speaking on the matter, Sinn Féin Senator Kathryn Reilly said, “The option of 50% off-farm work has not been available to countless thousands of young people from a traditional farming background for the past decade, in particular… It is of the utmost importance that provisions were made for members of the diaspora who are returning home to farm.” ♦