Thousands of landowners across the country have benefitted from millions of euro worth of long-term leasing income tax relief according to the government.

The Minister for Agriculture, Food and the Marine said that latest figures show "€34.3 million for 12,490 beneficiaries under the long-term leasing exemptions".

Landowners can claim income tax relief on certain income earned from the long-term leasing of farm land - but they cannot lease the land to a close relative.

New changes introduced in Budget 2024 also mean that after January, 1 2024 landowners must have "owned the land for a period of at least 7 years before they can make a claim for relief".

According to Minister Charlie McConalogue this "focuses the relief on genuine farmers and reduces the likelihood of speculation while protecting the support for farmers engaged in long-term lease arrangements".

In response to a parliamentary question tabled by the Fine Gael, Cork North-Central TD, Colm Burke, Minister McConalogue said that long-term leasing income tax relief "is designed to encourage land mobility and longer-term leases, rather than conacre".

Deputy Burke had queried what action the Department of Agriculture, Food and the Marine was "taking to address land accessibility issues for young farmers".

Minister McConalogue outlined to Deputy Burke that long-term leasing allowed farmers to "enlarge their farm holdings and increase productivity".

He also highlighted that it:

Allows young farmers and new entrants to the sector to gain access to land by providing a cheaper means of long-term access to land;
Provides a route to retirement for older farmers and assists in generational renewal;
Provides security of tenure and the certainty required to encourage lessees to maintain and make investments in improving land;
Is important in accessing bank credit - financial institutions generally match loan terms to lease duration.

The minister also pointed to the Common Agricultural Policy (CAP) 2023-2027 which he said "provides support for collaborative farming, which also facilitates access to land for younger farmers".