line of trees


Red Ball    Income from Forestry is Tax Free.

Profits, including premium payments, from forestry managed on a commercial basis and with a view to the realisation of profits are exempt from Income Tax and Corporation Tax.

Forestry Grants are not treated as income for tax purposes.

The Finance Act 2010 no longer applies to Forestry from the 1st January 2016. This did apply limits to "specified reliefs" for the tax years 2010 to 2015.

Red Ball    Agricultural Relief

Gifts or inheritances of woodland in Ireland can quailfy for Agricultural Relief in relation to Capital Acquisitions Tax (CAT). An allowance of 90% of the value of the crop is allowed for CAT purposes

The recipient does not need to be able to show, after taking the benefit, that at least 80% of his or her total assets are represented by agricultural assets.

Red Ball    Capital Gains Tax

Where an individual (but not a company) disposes of woodlands, the value of trees growing on the land is disregarded for Capital Gains Tax (CGT). This means that only the land itself is taken into account for CGT purposes.

Red Ball    Stamp Duty

The value of growing trees is disregarded for stamp duty purposes on a conveyance or transfer of forestry land by sale or lease, stamp duty is charged only on the value of the bare land.

Red Ball    PRSI

Income from commercial woodlands including Forest Premium payments are included as income for PRSI.

Red Ball    USC

Income from commercial woodlands including Forest Premium payments are included are included for the purposes of the Universal Social Charge.

Red Ball    Professional Advice

The above information is only intended as a guide, you are advised to seek Professional legal and tax advice before making any decision.

line of trees