The Cratloe-based general secretary of the ICSA is still concerned that farmers are losing out – despite the cabinet changing the new stamp duty rate.
The government introduced a 6 percent rate in the Budget – but changed a key element of it yesterday which allows family farms to pass on without paying high tax.
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An upper age cap has been abolished until 2020, meaning farmers can sell their assets to family at just 1 percent stamp duty.
The ICSA is welcoming the move but Eddie Punch feels it’s still unfair on farmers looking to expand:
