The Irish Natura and Hill Farmers Association says the upper age limit of 67 years of age for stamp duty relief for close family farm transfers must be abolished.
INHFA President Colm O’Donnell from Sligo says there’s a special clause for relief that applies to non residential transactions where a father or mother transfers to a son or daughter or equally an aunt or uncle to a niece or nephew.
The level of stamp duty relief for this type of transfer is 1% of the market valuation of the land.
Up until 2016 no upper age limit applied to such transfers.
However, Mr O Donnell says the current 67 years limit is totally unacceptable and runs contrary to traditional family farm transfers in rural Ireland.
The INHFA are calling on all elected representatives and all other farm organisations to back its call for an end to this 67 years upper age limit which, according to O’Donnell, is achievable if all stakeholders make a united call.
