Development land-CPO'S
11/02/1997
Query
Does land let and used for farming qualify for relief under S.605 TCA 1997?
Decision
S.652(5) effectively allows relief under S.605 on the disposal of development land to a local authority possessing compulsory purchase powers in certain circumstances. The land in question must be land occupied and used only for the purpose of farming. There is no requirement that the person making the disposal has to have farmed the land him/herself and thus, let land can qualify as long as it has been occupied and used by the lessor for the purposes of farming.
Capital Gains Tax
Section 652, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:G85(A)(14)