Monthly Archives: August 2013

Double Income Tax Deduction for Carbon Tax

Farmers will be allowed a double income tax deduction for increased costs arising from the increase in farm diesel which came into effect on 1st May 2012. The question is – how will it be calculated? Will it mean having to take each individual invoice and calculate the increased cost by comparing the pre and post 1st May 2012 prices?

If so, the calculation of …

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Head of Tax Appointment

Declan McEvoy A.I.T.I., T.E.P. has been appointed IFAC Head of Tax in succession to Joe Hickey who is transferring to Corporate Services and Planning. Declan, a native of Portlaoise is married to Sadie and they have 3 children. He is a registered Chartered Tax Advisor and a registered Trust & Estate Practitioner. Declan has been the Senior Tax Consultant in IFAC since 2006 and was …

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Attractive Investment for Farmers & Non-Farmers – Finance Bill 2012

Declan McEvoy A.I.T.I., T.E.P., Senior Tax Consultant, IFAC Accountants

The recently published Finance Bill sets out the proposed legal wording to give effect to the 2012 Budget. There will of course be some amendments to the Bill as it makes its journey through both houses of the Oireachtas.

Tax changes outlined in the 2012 Finance Bill should make agricultural land more attractive as an investment …

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Land as an Investment – Tax Changes Will Increase The Potential

Declan McEvoy A.I.T.I., T.E.P., Senior Tax Consultant, IFAC Accountants

Last week’s Country Property section of the “Journal” stated that anecdotal evidence suggests that cash rich individuals have stood on the fence over the past few years in anticipation that the price of land would fall further but the uncertainty of the euro coupled with the instability of leaving large volumes of money on deposit, has …

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The Budget & Farm Transfer Taxes/PRSI

Ben Fogarty, Branch Manager, IFAC Accountants, Kilkenny

Considering the exceptional times in which we live the Budget paid some recognition to the role the farming industry can play in restoring the Irish economy, boosting exports and increasing employment. Both the IFA and Macra Na Feirme deserve credit for the manner in which they presented the farming viewpoint in pre-Budget lobbying. The reduction in the stamp …

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