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.
An upper age cap has been abolished until 2020, meaning farmers can sell their assets to family at just 1 percent stamp duty.
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The ICSA is welcoming the move but Eddie Punch feels it’s still unfair on farmers looking to expand:
