Finance Act 2025
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Amendment of section 604B of Principal Act (relief for farm restructuring) | ||
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52. (1) Section 604B(1) of the Principal Act is amended, in paragraph (a)— | ||
(a) by the substitution of the following definition for the definition of “agricultural land”: | ||
“ ‘agricultural land’ means— | ||
(i) land in the State used for the purposes of farming, including land suitable for occupation as woodlands on a commercial basis, and | ||
(ii) land in the State suitable for occupation as woodlands (other than on a commercial basis), used for the purpose of conservation, | ||
but does not include buildings on the land;”, | ||
(b) by the insertion of the following definition: | ||
“ ‘conservation’ has the same meaning as it has in European Communities (Birds and Natural Habitats) Regulations 2011 ( S.I. No. 477 of 2011 );”, | ||
and | ||
(c) in the definition of “relevant period”, by the substitution of “31 December 2029” for “31 December 2025”. | ||
(2) Paragraphs (a) and (b) of subsection (1) shall come into operation on such day as the Minister for Finance may, by order, appoint. | ||
(3) Paragraph (c) of subsection (1) shall come into operation on such day as the Minister for Finance may, by order, appoint. |