Aid for afforestation is in the form of afforestation grants and annual premiums to the applicant. Afforestation grants cover the costs of establishing and maintaining a plantation for the first four years, while premium payments are to compensate landowners for income foregone. Such afforestation grants and premiums are available to both national and international investors.
The afforestation grant covers the costs of establishing and maintaining the plantation until free growth is achieved, normally four years. We offer an initial tailored four year contract to existing and new clients for the establishment and maintenance of new plantations. The operations completed in this contract are detailed in table 1.
Table 1. Establishment and Maintenance operations
|Establishment Phase (Year 1)||Maintenance Phase (Year 2 to 4)|
|Fencing||Replacing failed plants|
|Ground preparation||Shaping broadleaves|
|Supply of planting stock||Fertilisation|
|Vegetation control||Fence repairs|
The forest premiums are income tax-free. The rate of premium is dependent on the species planted. Premiums are paid annually from first year of establishment for 15 years.
Forestry Services Ltd completes all paperwork involved in applications for grant aid on behalf of clients. For details on current afforestation grant rates please visit www.forestryservices.ie.
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Forestry and the timber industry has been very much an under developed sector in Ireland and I feel this new website foresttomarket.ie is an ideal vehicle to help to promote and coordinate investors, farmers, auctioneers and all involved in the sector. I congratulate Paddy Bruton and all his team in Forestry Services Ltd. on this one-stop-shop website initiative and wish them every success in the future.
Sean Kelly MEP at website launch
In an environment of historically low interest rates and bond yields; volatile and nervous equity markets; uncertain property markets; the investment options are not at all clear or straightforward at the moment. For any investor, diversification is key and in that context, forestry can play a very valuable role. This website will make a very valuable contribution to investors interested in sourcing this investment option.
Jim Power, Economist at website launch