2020 forestry premium payments have commenced issuing to Irish landowners, according to Andrew Doyle T.D., Minister of State at the Department of Agriculture, Food and the Marine with responsibility for forestry.
The payments, which are tax-free, will issue today (Wednesday, January 8th) to over 7,000 forest owners amounting to a total of €33.24 million.
“This year’s forestry payments have commenced early, and total payments issued exceed the payments made at the same time last year by almost 30%.”
“This tax-free payment illustrates that forestry remains a very viable long-term investment option for farmers providing a regular income stream for up to 15 years after planting and a stable market for timber.”
This farm-forestry model, Doyle added, also allows farmers to diversify their income while still maintaining livestock if they wish.
“I would encourage all farmers to consider the options provided under the current Forestry Programme and discuss the range of schemes with their agricultural advisor.’
This payment run, the Minister added, also represents a 40% increase in terms of forest owners who applied for premiums compared to last year and reflects the success of the move to a fully online application system.
He outlined that the benefits of the online system are a faster turnaround time and a simpler application process.
The success of the roll-out of the system, which included Departmental information clinics at various locations, a dedicated helpdesk, and support from Teagasc and private agricultural advisors to landowners, is evident in the numbers who have now registered online.
Payments will continue each week and forest owners who have not submitted their online applications so far, can apply online for their forestry premiums through the Department’s website here.