Revenue eBrief No. 179/20

30 September 2020

Relief for certain income from leasing of farm land (Section 664)

Tax and Duty Manual (TDM) Part 23-01-23 provides guidance on the income tax relief that is available in respect of income received from the lease of farm land, which is provided for by section 664 of the Taxes Consolidation Act 1997. 

The manual has been updated and amended to incorporate the contents of TDM Part 23-01-24 “Farming-Relief for certain income from leasing of farmland. Lessee must use land for a trade of farming.”, which will be archived.

In addition:

  • In 2. Qualifying lease: the meaning of “definite term” is explained in more detail,
  • In 3. Qualifying lessor: it is confirmed that an individual who is tax resident in another jurisdiction may qualify for relief,
  • In 4. Qualifying lessee: a new example has been added, and
  • In 7. Spouses, civil partners and joint lessors: a new example has been added.