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Long term leasing query...

  • 25-05-2016 12:57pm
    #1
    4odh4n
    Registered Users, Registered Users 2 Posts: 117 ✭✭


    just saw it mentioned in another thread there and wondering if anyone knows a bit more about it.... the poster said something along the lines that you cannot receive the payment for long term leasing land tax free if you are also still farming?? (e.g. leasing half the farm and farming the other half)

    fella who rents some land of us asked if we would consider long term lease, I said I would look into it because I also work full time too, so wanted to find out if I would be able to receive the payment tax free as I have other income apart from farming?, never even thought that I might not be eligible because also doing a bit of farming too...

    anyone any experience of any of these situations??

    t.i.a.


Comments

  • #2
    Username John
    Closed Accounts Posts: 4,237 ✭✭✭Username John


    4odh4n wrote: »
    just saw it mentioned in another thread there and wondering if anyone knows a bit more about it.... the poster said something along the lines that you cannot receive the payment for long term leasing land tax free if you are also still farming?? (e.g. leasing half the farm and farming the other half)

    fella who rents some land of us asked if we would consider long term lease, I said I would look into it because I also work full time too, so wanted to find out if I would be able to receive the payment tax free as I have other income apart from farming?, never even thought that I might not be eligible because also doing a bit of farming too...

    anyone any experience of any of these situations??

    t.i.a.

    It doesn't say anything about it here

    http://www.revenue.ie/en/tax/it/reliefs/leasing-farm-land.html

    EDIT :
    Example 3 in the doc below seems to cover the scenario of renting out part of the farm.
    http://www.teagasc.ie/publications/2015/3774/Long-Term-Land.pdf


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