The IFA in partnership with the HSE is hosting an informative webinar session for farmers on the Change to the Fair Deal on 22 March, 2022 at 8pm. IFA Farm Family & Social Affairs Chair Alice Doyle says that, “This is an important opportunity for farm families to familiarise themselves with the Fair Deal scheme and the conditions to qualify for the 3-year cap on farm assets.”
She explains that the amendments for farmers availing of the scheme mean that under financial assessment of the scheme, if they meet certain conditions they will contribute up to 7.5% of the value of farm business assets each year towards the cost of care for a maximum of 3 years – namely, the 3-year cap.
To qualify for the 3-year cap:
– Farmers must appoint a family successor
– The successor will commit to running the farm or business for at least 6 years
– The farm or business must have been actively run by you, your partner or your proposed family successor for at least 3 of the last 5 years
These scheme changes also apply to farmers who were in the scheme prior to the introduction of the changes in October 2021.
These scheme changes also apply to farmers who were in the scheme prior to the introduction of the changes in October 2021”.
Doyle says these farmers can apply for the 3-year cap on the farm assets if they meet the qualifying conditions but they must submit their application to their local Nursing Home Support Scheme office before 20 April 2022.
The Nursing Homes Support Scheme, commonly referred to has the Fair Deal Scheme, provides financial support towards the cost of long-term nursing home care. The amount you pay towards your nursing home fees depends on your income and assets.
Register for the webinar here.
LSL News.