Tax-Free Forestry Payments Should Reach Bank Accounts This Week

The annual tax-free forestry premium payments for 2016 should reach bank accounts this week beginning today, 11 April, the Minister of State at the Department of Agriculture, Food and the Marine with Special Responsibility for Forestry, has confirmed.

Minister Tom Hayes said the payments currently being issued are to those forest owners who applied through the paper-based system.


Minister Hayes said: "This year, €19.76 million in respect of some 6,600 such applications is being paid in this week’s bulk payment run, bringing the total value of forestry premium paid so far this year to almost €55 million. The Department will continue to process forestry premium applications as they are received throughout the year, with the total paid in forest premiums each year averaging just over €75 million.

"Forest premiums are payable annually under the Afforestation Grant and Premium Scheme, which also provides grants to landowners to cover the cost of planting new forests. The scheme supports the planting of different types of forests ranging from commercial forests for timber production to native woodlands planted for conservation purposes."

(CD/LM)