14 min listen
What’s in Budget 2021 for Dairy Farmers?
FromThe Dairy Edge
ratings:
Length:
25 minutes
Released:
Oct 19, 2020
Format:
Podcast episode
Description
With the Government announcing a large spending package in this year’s Budget 2021, Financial Specialist Kevin Connolly joins Emma-Louise Coffey on this week’s Dairy Edge podcast to discuss the agricultural measures for dairy farmers.
From an agricultural perspective, Kevin explains it is a neutral budget.
There is a top up in income from milk sales on dairy farms resulting in an increase in VAT on milk sales from 5.4% to 5.6%.
Some other positives for farmers include the continuation of tax reliefs including consanguinity (stamp duty), farm consolidation, capital gains and capital acquisition as well as stock relief.
Additionally, the TAMS grant has been extended which will support continued investment in farm buildings and farming equipment.
There was though an increase in carbon tax which has led to an increase in the cost of fuel and vehicle tax on farms.
Finally, there is a contingency/recovery fund created to assist the Irish economy resulting from a no-deal Brexit and/or a continued Covid-19 challenge.
For more episodes from the Dairy Edge podcast visit the show page at:
https://www.teagasc.ie/animals/dairy/the-dairy-edge-podcast/
From an agricultural perspective, Kevin explains it is a neutral budget.
There is a top up in income from milk sales on dairy farms resulting in an increase in VAT on milk sales from 5.4% to 5.6%.
Some other positives for farmers include the continuation of tax reliefs including consanguinity (stamp duty), farm consolidation, capital gains and capital acquisition as well as stock relief.
Additionally, the TAMS grant has been extended which will support continued investment in farm buildings and farming equipment.
There was though an increase in carbon tax which has led to an increase in the cost of fuel and vehicle tax on farms.
Finally, there is a contingency/recovery fund created to assist the Irish economy resulting from a no-deal Brexit and/or a continued Covid-19 challenge.
For more episodes from the Dairy Edge podcast visit the show page at:
https://www.teagasc.ie/animals/dairy/the-dairy-edge-podcast/
Released:
Oct 19, 2020
Format:
Podcast episode
Titles in the series (100)
Striking the balance between silage quality and quantity: Dairy Specialist, Joe Patton discusses silage production, from the cost to key metrics for quality and the optimum cutting date. Joe explains what to look for when analysing the quality of grass silage and what quality and quantity of silage is require by The Dairy Edge