Budget 2019: Miscellaneous measures which may affect agriculture
There are a number of different measures announced in Budget 2019 which – though not all directly connected to farming – may affect Irish agriculture, according to agricultural consultancy and professional services firm FDC Group.
Donncha Collins, senior tax consultant with FDC (Farm Development Co-Op), highlighted additional measures announced in the budget which are of note for farmers.
In addition, the minimum wage was increased by Minister for Finance Paschal Donohoe today, from €9.55 up to €9.80 per hour.
There has been no change made to the corporation tax rate of 12.5%, Collins said, while the mortgage interest allowable deduction against rental profits for landlords has increased to 100%.
Meanwhile €50,000,000 is to be spent on the implementation of the PAYE Modernisation system, which is due to be operational by January 1, 2019, Collins noted.
Finally, there will be two extra weeks of parental leave with effect from November 2019 for employees.