Payment of Tax by Means of Donation of Heritage Items
- The ceiling on the aggregate value of heritage items approved for donation in any one year has been increased to €8 million.
Relief for Investment in Corporate Trades
- Changes to the Employment Investment Incentive (EII), Start-up Relief for Entrepreneurs (SURE), and the Start-up Capital Incentive (SCI) include:
- Changes to the eligibility criteria that apply to companies.
- Standardising the minimum holding period required to obtain relief to four years for all investments.
- Increasing the maximum investment amount on which an investor may claim relief from €250,000 to €500,000 annually.
Accelerated Capital Allowances for Energy Efficient Equipment
- The accelerated capital allowances scheme for Energy Efficient Equipment is being extended for a further two years until 31 December 2025.
Acceleration of Wear and Tear Allowances for Farm Safety Equipment
- The scheme of accelerated allowances which was due to expire at the end of this year is being extended until 31 December 2026.
Relief for Certain Income from Leasing of Farm Land
- This change requires that a lessor who has purchased farm land for a consideration equal to market value on or after 1 January 2024 must have owned the land for a period of at least 7 years before they can make a claim for relief.
Special Provisions for Registered Farm Partnerships
- The amount of relief that can be received in aggregate is to increase from €15,000 to €20,000 for qualifying periods commencing on or after 1 January 2024.
Relief for Young Trained Farmers
- An overall lifetime limit applies to the aggregate amount of relief which may be claimed under:
- Income Tax Stock Relief
- Succession Farm Partnerships
- Stamp Duty Young Trained Farmer Relief
- This limit is being increased from €70,000 to €100,000.