Farm Buildings
20/12/1994
Query
If a farmer retires and leases his buildings to another farmer can he continue to claim the remaining farm buildings allowances in respect of the buildings?
Decision
No. In order to qualify for the farm buildings allowances he must be carrying on farming, the profits or gains of which are chargeable in accordance with Section 655.
Income Tax
Section 658, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT943518