Donegal farmers are being advised to carefully consider the upcoming changes to Retirement Relief, which will take effect on January 1st.
The changes, introduced in the upcoming budget, offer some benefits but also reduce thresholds for farmers over the age of 70.
IFAC recommends that Donegal farmers consult with their tax advisors to understand how these changes will impact their retirement plans.
James Carroll, Tax Director at IFAC, outlines some of the changes that are to be expected:
