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land lease tax implications

  • 07-04-2019 9:18am
    #1
    st1979
    Registered Users, Registered Users 2 Posts: 936 ✭✭✭


    I see lots of rules for long term leases of land so land lord recipient gets the income tax free. But what's the rules for the farmer doing the lease. Can he sub let some ground on a yearly lease if it suits him. Can he rent a shed on the farm to a non farming enterprise (not related to landlord) to help towards paying the lease.
    I am asking on the basis that the lease did not preclude the farmer doing this and the landlord was ok with it.
    I am only interested in the tax implications not anything else as it's purely hypothetical question.


Comments

  • #2
    wrangler
    Registered Users, Registered Users 2 Posts: 11,328 ✭✭✭✭wrangler


    st1979 wrote: »
    I see lots of rules for long term leases of land so land lord recipient gets the income tax free. But what's the rules for the farmer doing the lease. Can he sub let some ground on a yearly lease if it suits him. Can he rent a shed on the farm to a non farming enterprise (not related to landlord) to help towards paying the lease.
    I am asking on the basis that the lease did not preclude the farmer doing this and the landlord was ok with it.
    I am only interested in the tax implications not anything else as it's purely hypothetical question.

    I wouldn't allow subletting anyway, the lease is to a specific farmer, someone you hope you can trust.
    On saying that if you did have a landlord allowing subletting, the income would be taxed as normal


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