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Major Relevant Contract Tax Overhaul Underway
New Electronic System likely to take effect January 2012
be made to the Relevant Contracts Tax (RCT) system to enhance its effectiveness, reduce
opportunities for fraud and help decrease the administrative burden for businesses and Revenue.
These reforms have now been entered into law and can be found in the Finance Bill (Section 20) (See
www.oireachtas.ie).
The changes to the RCT system only apply to the tax rates and to the way the system is being
operated. No changes have been made to what constitutes a Relevant Contract or to what
constitutes forestry operations.
For more information, see:
Relevant Contract Tax Reform Update  40Kb
Private Timber Sales Dispatch System
To support timber growers and encourage the thinning of private forest areas, the Irish Timber Growers Association has developed a model for a timber sales dispatch system that will assist with accountability and security in timber sales from private forests. This system and full operational details are now available to all on the Irish Timber Growers Association website www.itga.ie
A5 size 4-part timber sale dockets for use with the Model Timber Sales System are also available from ITGA Secretariat.
Price per Docket book €9.50 + VAT + P&P
(25 dockets per docket book)
For more information about the Irish Timber Growers Association, see www.itga.ie.
Membership application forms are available from the ITGA website or from the Secretariat 01 2350520 or email itga@eircom.net
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Timber Market Update - Aug '11
Roundwood prices have been falling gradually since the highs of Summer/Autumn 2010, however, they are still relatively favourable when one compares current prices available with 10 year CPI adjusted average prices. The response of timber growers to last year's excellent market conditions can be seen from the significant increase in the number of General Felling Licence (GFL) applications to Forest Service throughout 2010. For 2011 the number of GFL applications from private growers remains similar to last year and In the first seven months of 2011 General Felling Licences were applied for over 8,851 hectares of private woodland compared to 8,782 hectares for the first seven months of 2010.
It is interesting to note that the recent 'All Ireland Roundwood Production Forecast 2011-2028' (Phillips, H. 2011, COFORD, Department of Agriculture, Fisheries and Food, Dublin) forecasts a potential thinning area from private forests of 7,627 hectares (ha) for 2011 in addition to a potential felling area of 168 ha. This forecast rises to 9,555 ha for thinning in 2014 with 91 ha of felling in that year. Thereafter the forecast thinning and felling areas increase to reach 18,690 ha of thinning in 2028 in addition to 6,561 ha of felling forecast for that year.
Donal Whelan
Changes to Afforestation Grant and Premium Schemes 2011
Following a review of the Afforestation Grant and Premium Schemes by the Forestry Funding Review Group a number of changes will take effect in respect of financial approvals issuing from 1st January 2011. These changes are outlined in the following document.
Update on Changes to Afforestation Grant & Premium Schemes 2011
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