Published:
-
-
Author: Francis Farragher
~ 2 minutes read
FARM leaders have this week called on the new Minister for Finance, Jack Chambers, to use October’s Budget 2025 to get rid of the Residential Zoned Land Tax [RZLT] as it applies to farmland ‘once and for all’.
While a recent move by Fine Gael TDs, Senators and MEPs to exempt farmland from RZLT has been welcomed by the IFA, the want the new Finance Minister to give ‘full clarity and confirmation’ on the issue.
According to the IFA, if the tax had been introduced as originally proposed it could have forced farmers to sell off their land because of what they described as a ‘crippling’ 3% tax on the value of development land.
Galway IFA Chair, Stephen Canavan, told the Farming Tribune, that while there was an option for farmers to make a submission seeking the dezoning of land, there had been cases in different parts of the country where these weren’t successful.
“We’ve all heard of compulsory purchase orders [CPOs] but if this new RZLT tax had come in as originally proposed it would be the same as a compulsory selling order.
“I think here we are looking at a basic right of a farmer and his family to be able to continue farming on his holding without any threat of this penal tax being imposed. It just amounts to a bit of common sense,” said Stephen Canavan.
This week, IFA National Business Chair, Bill O’Keeffe, said that the straightforward solution to the issue was to simply to remove all actively farmed land from RZLT.
“This penal tax, if implemented, could result in the forced sale of farmland, potentially undermining the livelihoods of farmers.
“The annual 3% tax is due to take effect in early 2025. It’s completely unjust and must not be forced on farmers.
“The Minister for Finance Jack Chambers has it within his powers to exempt farmland from RZLT in the upcoming Budget 2025 and subsequent Finance Act,” said Bill O’Keeffe.
Pictured: Galway IFA Chair, Stephen Canavan
For more, read this week’s Connacht Tribune:
Connacht Tribune Digital Edition App
Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite HERE.
Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
More like this:
How do Irish people feel about News and where do they get it from?
This article first appeared on Galway Bay FMLocal radio and newspapers are the most trusted sourc...
Work to start shortly on new section of Athenry Northern Ring Road
This article first appeared on Galway Bay FMWorks on the western section of the Athenry Northern ...
Councillor Karey McHugh Farag to focus on affordable housing as Tuam Cathaoirleach
This article first appeared on Galway Bay FMThe newly elected Cathaoirleach of the Tuam district ...
Dáil hears vulnerable residents in Connemara still feeling impact of Storm Eowyn
This article first appeared on Galway Bay FMSome of the most vulnerable residents in Connemara ar...
Local MEP says planned EU law on AI child porn vital step forward
This article first appeared on Galway Bay FMA local MEP says proposed new EU laws to outlaw child...
Report launched in city shows local radio most trusted source of news
This article first appeared on Galway Bay FMLocal radio is one of the most trusted sources of new...
125 jobs for Oranmore as Neurent Medical opens state-of-the-art facility
This article first appeared on Galway Bay FMA jobs boost is in store for Oranmore as Neurent Medi...
Salthill home sets record by selling for €300k over AMV
This article first appeared on Galway Bay FMA home in Salthill has set a record for a local aucti...
President Higgins donates his archive to University of Galway
The Presidential Archive of President Michael D Higgins, as well as books from his personal colle...