Forestry Premium Payments to Issue
The annual tax-free forestry premium payments for 2016 are being issued and should reach bank accounts next week.
The payments currently being issued are to those forest owners who applied through the paper-based system.
A total of €19.76 million is being paid to 6,600 applicants in this bulk payment. The Department will continue to process forestry premium applications as they are received throughout the year.
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.
Forest owners, who are still eligible for forest premiums on their plantations, may apply for the payment of the annual premium online, through the Department’s Online Services, or by completion and return of the Application for Annual Forest Premium (Form 4).
A new Afforestation Grant and Premium Scheme came into operation on 1st January 2015 under the Forestry Programme 2014-2020. In addition to the availability of establishment grants, an annual forestry premium of up to €635 per hectare for 15 years is available under the Scheme.