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Conditions of stamp duty relief

  • 09-01-2012 3:26pm
    #1
    Enderol
    Registered Users Posts: 87 ✭✭


    Does anyone have any idea how to interpret this piece I saw in the IFA handbook 2012 about the conditions for stamp duty relief stamp duty relief (p143).

    Conditions for relief:
    1. Be a young trained farmer.
    2. furnish a declaration to the effect that he or she will, for a period of five years,
    2a. Spend not less than 50% of his/her normal working time farming the land.
    2b. Retain ownership of the land.


    Does this mean that if I work an off-farm job of 40 hours, I'd have to work on the farm another 40 hours to get relief??


Comments

  • #2
    Timmaay
    Registered Users, Registered Users 2 Posts: 11,394 ✭✭✭✭Timmaay


    Yes it does. How they could practically enforce this though! Sure aren't all us farmers hard workers, doing 80hours a week!


  • #3
    Enderol
    Registered Users Posts: 87 ✭✭Enderol


    Timmaay wrote: »
    Yes it does. How they could practically enforce this though! Sure aren't all us farmers hard workers, doing 80hours a week!

    That's exactly what I thought. Next you'll probably have to swipe in when you go onto the farm and have a doctors note for the department when your sick!


  • #4
    JohnBoy
    Registered Users, Registered Users 2 Posts: 2,342 ✭✭✭JohnBoy


    That's the dumbest, most un-enforceable criteria imaginable.

    let's say you're transferred 10 acres. what are you going to do to occupy half your working week?

    setup an intensive vegtable farm?


  • #5
    fulljonny
    Registered Users Posts: 13 ✭fulljonny


    When they say normal working hours do they mean 9-5?
    If that's the case you could only work six months of the year!Has anyone ever had there payment refused?


  • #6
    Username John
    Closed Accounts Posts: 4,237 ✭✭✭Username John


    Enderol wrote: »
    Does anyone have any idea how to interpret this piece I saw in the IFA handbook 2012 about the conditions for stamp duty relief stamp duty relief (p143).

    Conditions for relief:
    1. Be a young trained farmer.
    2. furnish a declaration to the effect that he or she will, for a period of five years,
    2a. Spend not less than 50% of his/her normal working time farming the land.
    2b. Retain ownership of the land.


    Does this mean that if I work an off-farm job of 40 hours, I'd have to work on the farm another 40 hours to get relief??

    Does it not mean you would need to do 20 hours a week? :confused:

    This easy enough done - Full day Saturday + 2 hours every day is 20 hours. Now add in holidays, doesn't be long adding up.


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