Budget 2020 for Dairy Farmers

Financial Specialist Kevin Connolly joins Emma-Louise Coffey to discuss Budget 2020.

Kevin explains the key budget measures that effect farmers including income tax, stock relief for young trained farmers, Capital Gains Tax and Capital Acquisitions Tax.

He explains that the budget has established provisions of €110m for Agriculture in the event of a no deal Brexit. Although there is little detail on specific allocation of funds, €85m has been allocated for beef farmers accounting for the greatest proportion of the fund.

Carbon related measures have seen an immediate increase in the cost of petrol and car diesel with tractor diesel and home heating oil increasing from May 2020.

For more episodes and information from the Dairy Edge podcast go to:
 https://www.teagasc.ie/animals/dairy/the-dairy-edge-podcast/