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Version date: 1 January 2024 - onwards
  Version 14 of 14    

664. Relief for certain income from leasing of farm land.

(1)

(a) In this section -

"farm land" means land in the State wholly or mainly occupied for the purposes of husbandry and includes a building (other than a building or part of a building used as a dwelling) situated on the land and used for the purposes of farming that land;

"EU Basic Income Support for Sustainability" means the scheme administered by the Minister for Agriculture, Food and the Marine under Regulation (EU) 2021/2115 of the European Parliament and of the Council of 2 December 2021 [OJ No. L435, 6.12.2021, p.1];

"lease", "lessee", "lessor" and "rent" have the same meanings respectively as in Chapter 8 of Part 4;

  "own", in relation to farm land, includes holding a leasehold interest in farm land;

"qualifying lease" means a lease of farm land which is -

(i) in writing or evidenced in writing,

(ii) for a definite term of 5 years or more, and

(iii) made on an arm's length basis between a qualifying lessor or qualifying lessors and a lessee or lessees who is, or each of who

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