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Long term lease tax relief question

  • 07-10-2018 12:58pm
    #1
    Donald Trump
    Registered Users, Registered Users 2 Posts: 20,832 ✭✭✭✭


    I read the Teagasc booklet about this.
    https://www.teagasc.ie/media/website/publications/2018/Long-Term-Land-Leasing.pdf




    It says that:

    A niece / nephew is NOT connected with an aunt/uncle for the purposes of this relief
    (However it mentions that there could be repercussions should the land be rented by the niece/nephew and get left or given to them later)




    My question is about the reverse - a niece/nephew leasing land to an aunt/uncle.




    Suppose there is a few older brothers/sisters set up in a partnership and then the child of one of them wants to lease land to them. Can this be done and qualify for tax relief? Or would the relief be pro-rated? i.e. suppose two brothers and a sister in the partnership, and the sisters son has 20 acres he wants to lease, will he get tax relief on it? Or 2/3rds of it or none of it?


    Hypothetical question. I anticipate answers telling me to ask an accountant. But I'm just posting here to see whether people have experience of something like that.




    Or maybe you could have the alternative with two cousins in partnership and the father of one wants to lease them a farm. That might be a more common scenario


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