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NEWS: Breeders press Minister for tax relief
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NEWS: Breeders press Minister for tax relief
on 27 September 2019
Ahead of Budget 2020, a delegation from the ITBA lobbied senior politicians to support the breeding industry

BUDGET 2020 is just 10 days away and this week a delegation from the Irish Thoroughbred Breeders’ Association met with Department of Finance ministers Paschal O’Donoghue and Patrick O’Donovan.

Accompanied by South Kildare TD Martin Heydon, the delegation of Christy Grassick (ITBA chair), Derek Iceton, John McEnery and Sasha Kerins of consultants Grant Thornton were following up on the ITBA Budget 2020 submission given to the Department in July.

Among the topics in the submission are:

  • Allowing for an increase in value of fillies transferred from training to breeding stock
  • Mare depreciation in line with existing stallion depreciation relief
  • Tax relief for breeders reinvesting in quality broodmares
  • Tax credit for small breeders on initial profits
  • These proposals were put together following the ITBA National Seminar entitled ‘Action Plan’, which was held last February. The main focus of the proposals is to encourage breeders to reinvest in quality broodmares and includes incentives for breeders to put their fillies into training, thus enhancing their future broodmare bands.

    An ITBA spokesperson said: “All the proposals were discussed with Government and opposition parties in recent weeks and we are confident that progress can be made in the very near future.”

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