Budget 2016 has been favourable towards forestry as we predicted.
Timber and forestry income has been removed from the High Earners restriction, meaning there is no limit to the annual earnings that can be received from timber earnings in a year. The implications of this are that commercial and silvicultural issues will impact on the harvesting decisions.
Harvesting and particularly clearfell harvesting, is the most valuable occasion in the lifetime of a commercial forest. Therefore, the news is very welcome. Similarly, the Capital Acquisitions Tax has remained the same, offering a 90% relief on agricultural transactions - the threshold has increased to €280,000 also.
From the planting side of things, there habeen almost €114 million dedicated to establish a further 7,000 hectares in the 2016 season and to provide for 120 km's of roadways into Irish forestry.
Contact your local forester to learn how forestry is an excellent pension and income option for you.