Farming budgetary wishlist

opposed to just working for the farmer.

Such a change would reflect modern arrangements, would require very little by way of changes in the legislation and should not involve any significant cost to the Exchequer.

Farm Investment

Both the IFA and ICSMA recommend the introduction of 100pc capital allowances on emission efficient equipment, greater flexibility in the amount of capital allowances that can be claimed in any one tax year for on-farm investment work and stock relief of 100pc on additional expenditure up to €100,000.

The IFA has also proposed incentivising renewable energy initiatives and the inclusion of solar panel infrastructure as a qualifying asset for the purposes of claiming agricultural relief on the transfer of these assets.

Workforce

A serious issue facing many farmers at present is the lack of available skilled labour.

The introduction of incentives through the tax or social protection system in order to support training schemes and encourage more skilled labour on to farms would be welcome.

In addition, the ICMSA submission proposes that a reduction in the cost of employer PRSI contribution rates would help to promote job creation.

Many of the issues raised in the submissions have application for all self-employed taxpayers.

But the proposals around income volatility and farm succession are directly related to the agri sector and are both interesting and innovative.

Previous budgets have tended to incorporate a number of recommendations from the pre-budget submissions of the farming organisations.

It will be interesting to see whether any of the proposals/ recommendations in this year’s submissions will be reflected in the Minister Donohue’s speech this afternoon.