Young farmer incentives increasing

There is a renewed emphasis on encouraging young farmers into farming in the new CAP Strategic Plan, Kevin Sheehan, Teagasc Education Officer, outlines some of these changes.

The Complementary Income Support for Young Farmers (CIS-YF) is replacing the Young Farmers Scheme (YSF) from the previous CAP programme. The CIS-YF will offer a greatly improved payment rate over the YFS of approximately €180/ha on up to 50ha. This will be available for up to five years. To be eligible for this scheme, a farmer will have to be under 40, in the first five years of farming, and have a Green Cert.

Young, trained farmers will also be eligible for the National Reserve, where they will be eligible to apply for entitlements on land that previously had no entitlements established. These will be worth in the region of €155 per entitlement.

The new CAP Strategic Programme will continue to support young trained farmers to develop infrastructure on their holdings, through the TAMS scheme. A 60% grant rate will be available to young, trained farmers up to a €90,000 ceiling. The eligible investments are not yet confirmed but are likely to include slurry storage, animal housing, and animal handling equipment among other things. A new introduction will be 60% grant rates for female farmers between 40 and 60 years of age. Applicants will have to possess a Green Cert to be eligible for the scheme.

There are tax benefits to completing the Green Cert too. Qualified farmers under the age of 35 are exempt from the 7.5%. Stamp Duty currently payable on the transfer or purchase of land. Trained farmers are also eligible for Agricultural Relief from Capital Acquisitions tax. This can significantly reduce the tax bill on a farm transfer. Advice from your accountant should be sought before any farm transfer as everyone’s situation is different.

There are a number of ways of obtaining the Green Cert. if you possess a previous qualification, you are eligible for the Distance Course, where you must attend 22 days over the course of 18 months for practicals. If you have no previous qualification, you are eligible for the part-time course. 

For more information on the courses run by Teagasc and upcoming college open days, visit the Teagasc Education webpage.