Friday, November 13, 2015

Extension of TAMS II deadlines a relief for farmers

Fine Gael TD for Meath East, Regina Doherty, has said that the announcement of extensions for the various TAMS II Schemes by the Minister for Agriculture, Simon Coveney, will be a relief for many Meath farmers.

“The deadline for online applications for the first tranche of the Animal Welfare, Safety and Nutrient Storage Scheme, and for the Organic Capital Investment Scheme, has been extended to the 30th November. This is good news for those in the agricultural sector in Meath.

“The closing date for the Low Emission Slurry Spreading Scheme remains the 20th November 2015.

“Minister Coveney also announced that applications are now open, with extended closing dates, for the Young Farmers Capital Investment Scheme; the Dairy Equipment Scheme and the Pig and Poultry Investment Scheme. Applications will be accepted for all of these schemes until 25th March 2016.
“It is important that every effort is made to ensure that farmers have access to funds, and that supports are in place to promote the agricultural sector in every way possible.
“Budget 2016 confirmed an increase of €109 million for the agri-food sector and measures have been promoted to support young farmers in particular.

“A new tax credit of €5,000 per annum for five years will be introduced for farmers who transfer their land to successors over a period of time. This will make it much easier for farms to be passed from one generation to the next, securing them for the future of the family farm.
“The 100% Stock Relief on Income Tax for Certain Young Trained Farmers, and the Stamp Duty Exemption on Transfers of Land to Young Trained Farmers have been maintained for three years, as have the 25% General Stock Relief on Income Tax, and the 50% Stock Relief on Income Tax for Registered Farm Partnerships.
“Schemes supported by the Department of Agriculture, including TAMS II, are vital to supporting cash flow in farms across the country. Equally important is ensuring that farmers have access to these schemes and the extension of certain deadlines will be of great assistance to many.”

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