CAPITAL ACQUISITION TAX – AGRICULTURAL RELIEF
The 2018 Budget was introduced by Minister Pascal Donohoe, in his first Budget speech, to the Dail on the 10 October 2017. The Minister announced that the leasing of agricultural land for solar panels will be classified as qualifying agricultural activity for CAT agricultural relief and CGT retirement relief. A condition of this classification is that the solar panels cannot cover more than 50% of the total farm holding.
This initiative will expand Ireland’s renewable energy platform and work towards tackling climate change.