The first bulk payment of annual tax-free forestry premiums for 2018 has been announced by Andrew Doyle, Minister of State at the Department of Agriculture, Food and the Marine with responsibility for Forestry.
The payments are currently being issued to forest owners who applied through the Department of Agriculture, Food and the Marine’s online services website, www.agfood.ie.
Minister Doyle said that “some 7,300 forest premium applications have been paid this week, amounting to €27.8m. This is a significant investment in rural Ireland. The Department will continue to process online applications for 2018 forest premiums as they are received, with payments continuing on a weekly basis throughout the year. This first payment is for applications received online, which shows the benefit of applying online for forest owners. I would encourage others to consider this option in future.”
He added: “The beginning of each year is a good time to consider options for the year ahead and I would encourage landowners to give serious consideration to forestry as a land-use option. There are a range of schemes available under the current Forestry Programme so I believe that landowners should check those out in order to make a fully-informed decision. Details can be found at www.agriculture.gov.ie/forestservice. The extent of payments being issued this week illustrates how forestry can provide a regular income stream for up to 15 years for Irish farmers. In the next few weeks, I expect to be announcing the outcome of a mid-term review of the 2014-2020 Forestry Programme, which will make further exciting changes to these schemes.”