Overhaul of the profit allowance for young farmers (75% then 30%, up to €58,552)
Article 126 of the 2019 Finance Act amends the profit allowance for young farmers receiving installation aid (Art. 73 B of the General Tax Code), previously 50% (100% for the year the grant is recorded). It becomes 75% when profit does not exceed €43,914; otherwise 75% on the portion up to €43,914 and 30% on the portion between €43,914 and €58,552. These rates rise to 100% and 60% for the year the grant is recorded. Thresholds are updated every three years. Applicable to farmers granted installation aid from 1 January 2019.
Measure originators
No official estimate found for this measure.
Measure impact
No official costing of the adopted text: the preliminary assessment covered an initial version (50% up to €29,276) estimated to yield €9-10m per year, later amended by Parliament.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)
Council of Ministers
Validation interne