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Income from farming

longmeadow · 2021-09-26 19:34:03

On the Citizen Information web page on Means Test, I read the following: "Income from farming If you or your spouse, civil partner or cohabitant are getting income from working a farm the yearly value to you is assessed (this is gross income minus expenses). If the land is worked but is not being worked to its potential,…

26-09-2021 7:34pm

#1

longmeadow

Registered Users, Registered Users 2 Posts: 5 ✭

Join Date: May 2021

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On the Citizen Information web page on Means Test, I read the following:
"Income from farming
If you or your spouse, civil partner or cohabitant are getting income from working a farm the yearly value to you is assessed (this is gross income minus expenses). If the land is worked but is not being worked to its potential, then an estimate of the potential net yearly value is made.
If you are leasing a farm you own, the rental income is assessed.
If you are not working or leasing a farm the capital value of the land is assessed."
https://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/means_test_for_social_welfare_payments/means_test.html

Does this mean that if I lease an acre of land to a farmer the capital value of the land is not assessed, but only the rental income is assessed. Is anyone familiar with this situation? Does anyone have experience with it? How does it work in practice?

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