budget 2015

whelan2

anyone hear anything farming wise in the budget?

spillcoe

Nothing too specific so far.

http://www.irishtimes.com/business/budget-2015/budget-will-be-big-day-for-agriculture-coveney-says-1.1961881

Count Mondego

They'll have to make reference to GLAS I'd imagine, otherwise I won't happen.

tayto lover

Grants to be cut it seems.

naughto

The agri-taxation review is being published today

additional land will be made availabe

Income tax threshold increased for letting lands by 50%

40 year threshold being removed
CGT retirement relief being changed -extended to conacre

extending stamp duty relief on farms

Volatile farming prices - income averaging being increased from 3 years to 5 years.

The farmers flat rate addition is being increased from 5% to 5.2%

Irish bloodstock
Additional €6m to the fund for horse and greyhound racing

kowtow

naughto wrote: »

The agri-taxation review is being published today

Any idea where and when the detail of the review will be published?

I notice CAT is to be limited to active farmers or those who lease to active farmers (not a bad idea) - a bit clearer than the 80% asset test which was the case until now.

But where will we find the definition of active farmer?

darragh_haven

naughto wrote: »

The agri-taxation review is being published today

additional land will be made availabe

Income tax threshold increased for letting lands by 50%

40 year threshold being removed
CGT retirement relief being changed -extended to conacre

extending stamp duty relief on farms

Volatile farming prices - income averaging being increased from 3 years to 5 years.

The farmers flat rate addition is being increased from 5% to 5.2%

Irish bloodstock
Additional €6m to the fund for horse and greyhound racing

What does the bold above mean

kowtow

darragh_haven wrote: »

What does the bold above mean

It means you don't have to be over 40 to get tax free income from leasing out land.

The full agricultural review is here

http://www.budget.gov.ie/Budgets/2015/Documents/Agritaxation_%20Review%20_Final_web-pub.pdf

So far it appears CAT will be limited to active farmers from 1st January, an active farmer being qualified or working "full time" in agriculture for 6 years post acquisition.

Username John

darragh_haven wrote: »

What does the bold above mean

http://www.agriland.ie/news/budget-highlights-farmers/

*I assume* the removal of the "aged 40 years or over" qualifying rule here
http://www.revenue.ie/en/tax/it/reliefs/leasing-farm-land.html

But - I guess the devil is in the detail, so we'll have to wait and see.... I'll be watching this one with interest too...

Cow Porter

http://www.farmersjournal.ie/budget-2015-live-blog-167173/

frazzledhome

Importantly Ltd co's can now lease land and landlord avail of income relief

A cow called Daisy

Got that I.F.A. text about budget that said GLAS for 30000 farmers. Was a figure of 50000 not mentioned earlier in year when scbeme first talked about.?
And why announce it again?. Think I know the answer to that!

Jonblack

A cow called Daisy wrote: »

Got that I.F.A. text about budget that said GLAS for 30000 farmers. Was a figure of 50000 not mentioned earlier in year when scbeme first talked about.?
And why announce it again?. Think I know the answer to that!

50000 included west of ireland farms now they are not included and needing a min of 200 acres plus a single farm payment of at least 30 thou the number is down a bit. There is talk of having to sign your soul away and vote FG in next election, so final number about zero plus it will not start until after next election.

Connemara Farmer

A cow called Daisy wrote: »

Got that I.F.A. text about budget that said GLAS for 30000 farmers. Was a figure of 50000 not mentioned earlier in year when scbeme first talked about.?
And why announce it again?. Think I know the answer to that!

30k is for the first year. 50k over the "life" of the scheme.

whelan2

was there any change in tax on fuel?

5live

whelan2 wrote: »

was there any change in tax on fuel?

None.

darragh_haven

whelan2 wrote: »

was there any change in tax on fuel?

No. Diesel and petrol staying put

whelan2

darragh_haven wrote: »

No. Diesel and petrol staying put

and wine

whelan2

the 5 years averaging will be a great help around here

milkprofit

Pension levy going

frazzledhome

milkprofit wrote: »

Pension levy going

That and USC were dirty ones, USC a fecker

Green farmer

darragh_haven wrote: »

No. Diesel and petrol staying put

Global oil and diesal prices on way down though, saw diesal at 137.9 today !!!

Miname

Green farmer wrote: »

Global oil and diesal prices on way down though, saw diesal at 137.9 today !!!

That's still dear, I remember filling a 5 gallon drum for a fiver.

whelan2

Miname wrote: »

That's still dear, I remember filling a 5 gallon drum for a fiver.

changed from a petrol car to a diesel jeep there a few weeks ago, diesel is way cheaper -10cpl. Isnt most of the fuel price tax?

Miname

whelan2 wrote: »

changed from a petrol car to a diesel jeep there a few weeks ago, diesel is way cheaper -10cpl. Isnt most of the fuel price tax?

All diesel here, I seem to be a target for customs though so never chance the green. Taxes seem to be the joke alright, I took the car for work today as had a lot of calling round to do and was trying to work out how the whole toll situation , saved nearly €10 on tolls by driving the car and just can't understand how light commercials should be charged more on each of the toll bridges

Pacoa

and wine

Must fill up the tractor with some tomorrow then

5live

frazzledhome wrote: »

That and USC were dirty ones, USC a fecker

Whats the story with USC? News said a rise in selfemployed USC:O

darragh_haven

frazzledhome wrote: »

That and USC were dirty ones, USC a fecker

You cant do anything to avoid the USC... tax you can work creatively with but USC is just straight forward kick in the hole. And when it came it the lads in the Dail were "its just till were out of bother".... hard to get rid of it now

mf240

whelan2 wrote: »

the 5 years averaging will be a great help around here

Will be a help with fluctuating price.

Ive been averaging for the last few years. Very usefull measure. But can be a sting in the tail at times.

mf240

5live wrote: »

Whats the story with USC? News said a rise in selfemployed USC:O

Two new bands introduces over 70k 8 % over 100 k 11 %

Sam Kade

Miname wrote: »

That's still dear, I remember filling a 5 gallon drum for a fiver.

First diesel car I owned in 1996 52p/l the good old days only a distant memory now

5live

mf240 wrote: »

Two new bands introduces over 70k 8 % over 100 k 11 %

Great, no worries till 2100 for me so:-)

Sam Kade

darragh_haven wrote: »

You cant do anything to avoid the USC... tax you can work creatively with but USC is just straight forward kick in the hole. And when it came it the lads in the Dail were "its just till were out of bother".... hard to get rid of it now

Sure it's only a charge nothing to do with tax :mad:

mf240

Would they not have been better to have put some money back into health and not given some of the other measures.

Not a popular opinion maybe but we all need health care.

5live

mf240 wrote: »

Would they not have been better to have put some money back into health and not given some of the other measures.

Not a popular opinion maybe but we all need health care.

Extra €500m, iirc.

awaywithyou

When do the new income averaging rules come in?

frazzledhome

darragh_haven wrote: »

You cant do anything to avoid the USC... tax you can work creatively with but USC is just straight forward kick in the hole. And when it came it the lads in the Dail were "its just till were out of bother".... hard to get rid of it now

Darragh,
Income tax was brought into France during Napolionic times as a temp measure, and look how that worked

Dawggone

Sam Kade wrote: »

Sure it's only a charge nothing to do with tax :mad:

Death and taxes. The only certainty in life.

frazzledhome

Dawggone wrote: »

Death and taxes. The only certainty in life.

These bastards are trying to tax the self employed to death:)

mf240

Will fg get back in next time.

No as bad as ff anyway. The rest are a pretty sad bunch.

Sam Kade

frazzledhome wrote: »

These bastards are trying to tax the self employed to death:)

They are saying that people on average income will gain by €700/year but the property tax and water charges will eat into that.

Dawggone

frazzledhome wrote: »

These bastards are trying to tax the self employed to death:)

God I know that too well. Taxes here are very heavy. Then you get fantastic services so it kinda takes the sting out of it a bit - a bit only.

Sam Kade

mf240 wrote: »

Will fg get back in next time.

No as bad as ff anyway. The rest are a pretty sad bunch.

My thoughts exactly. fg the best of a very bad lot, but the sheeple will vote ff in their droves thinking that they will get rid of property tax and water charges :mad:

Lano Lynn

Sam Kade wrote: »

My thoughts exactly. fg the best of a very bad lot, but the sheeple will vote ff in their droves thinking that they will get rid of property tax and water charges :mad:

even sheep ain't that stupid ,but the pigs with there snouts in the trough are not that fussy:rolleyes:

darragh_haven

frazzledhome wrote: »

Darragh,
Income tax was brought into France during Napolionic times as a temp measure, and look how that worked

That short arsed megalomaniac. .. lot to answer for.

whelan2

Sam Kade wrote: »

My thoughts exactly. fg the best of a very bad lot, but the sheeple will vote ff in their droves thinking that they will get rid of property tax and water charges :mad:

i think people will vote sf- i hope not though

Jonblack

Sam Kade wrote: »

My thoughts exactly. fg the best of a very bad lot, but the sheeple will vote ff in their droves thinking that they will get rid of property tax and water charges :mad:

The sheeple voted FG because they were going to change things, no more job's for the boys, our way not Germany, Roscommon A&E safe in our hands . Get ready for more give aways next year to buy the election. FG have done nothing for farming. GLAS is not going to happen for the farmer who needs it.

5live

Jonblack wrote: »

The sheeple voted FG because they were going to change things, no more job's for the boys, our way not Germany, Roscommon A&E safe in our hands . Get ready for more give aways next year to buy the election. FG have done nothing for farming. GLAS is not going to happen for the farmer who needs it.

We will still be borrowing €5b next year to run the country and pay borrowings. We wiil be running the country with our own money, though.

We are now dependant on growth to balance the books. We also have comitted to reducing our debt ratio to 60% of GDP in under 20 years so we will have to run a budget surplus of 3% a year for the next 20 years to achieve that. We are a long way from calm water yet.

Muckit

Green farmer wrote: »

Global oil and diesal prices on way down though, saw diesal at 137.9 today !!!

Ahhh.....but is it really 'diesel' though or like a lot of shaggin places around here, is it laced with kero??!!

Muckit

mf240 wrote: »

Would they not have been better to have put some money back into health and not given some of the other measures.

Not a popular opinion maybe but we all need health care.

At least the recruitment embargo has been lifted. That is a big one. What the average joe on the street mightnt have realised was that every HSE emplyee that retired in the last few years were not being replaced! They were even actively encouraging employees to take early retirement and unpaid sabbaticals. This left a huuge shortfall in the 'people working on the ground.' Our young educated health professionals were just leavibg uni to get on a plane. Half the healthforce were then effectively doing or trying to do twice the work. They may have saved a bit on wages but it was no way to run a sustainable service.

frazzledhome

Dawggone wrote: »

God I know that too well. Taxes here are very heavy. Then you get fantastic services so it kinda takes the sting out of it a bit - a bit only.

Top rate here is now 55%:( + water+health+education

Ye get service we get assaulted without even a smidgen of KY