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Farm lease and tax exemptions

mickdw · 2021-11-06 18:33:27

Im inherited a small farm and have put in place a lease to a local farmer for 5 years. we got the lease prepared by farm planner and both signed and all happy. I am required to have an active farmer in place to satisfy tax exemptions I received on inheriting the land. I now read online that the lease must be stamped by…

06-11-2021 6:33pm

#1

mickdw

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Im inherited a small farm and have put in place a lease to a local farmer for 5 years.
we got the lease prepared by farm planner and both signed and all happy.
I am required to have an active farmer in place to satisfy tax exemptions I received on inheriting the land.
I now read online that the lease must be stamped by revenue in order to be valid. Is this correct?
If so, how do I go about this and is it myself as owner or the farmer who should have this done?
Im planning to avail of exemption from income tax on the lease.
Any advice?

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