The annual tax-free forestry premiums for 2018 are amounting to over €17m, according to the Department of Agriculture, Food and the Marine (DAFM).
These payments follow the previous January pay run and are issuing to those forest owners who used the paper-based application system.
Minister of State Andrew Doyle announced today (April 19) that the payments to date are at €56.8m in respect of 16,390 applications. “The DAFM will continue to process forest-premium applications as they are received and will be making payments on a weekly basis throughout the year. Between €60 and €70 million is usually paid in forest premiums each year, which represents a significant stable income stream for forest owners.
“Higher forestry grants and premiums have been introduced following the Mid Term Review of the Forestry Programme 2014-2020 and I encourage landowners to explore the forestry option,” Minister Doyle continued. “Existing forest owners will be interested to note that new forestry initiatives are also going to be launched during 2018, including Forestry Knowledge Transfer Groups.”
Forest owners who have not submitted their online applications to date may still apply online for their forestry premiums through the IFORIS Internet portal at agfood.ie.