At today's Budget 2017 announcement, Minister for Finance Michael Noonan said the ACA scheme, which helps farmers invest in energy-efficient equipment, is to be extended to sole traders.
This implements the final recommendation of the agritax review and will help businesses in the farming and marine sectors to invest in energy-efficient equipment and receive the full allowances in the first year.
The extension of the grant to sole traders was one of the measures the Irish Farmers Association was looking for in its pre-budget submission.
The scheme allows companies and individuals to write off 100% of the purchase value of certain types of energy efficient equipment against their profit in the year of purchase. The purpose of the scheme is to encourage businesses to purchase plant and machinery that is highly energy efficient and thus make significant savings on energy costs and reduce carbon emissions.
In his 2015 Budget speech Minister Noonan announced the continuation of the scheme for a further three years to 31 December 2017.
The wide range of equipment in which farmers can invest includes lighting, refrigeration and cooling equipment. Under heating and electricity equipment, the range of items include wind turbines, boilers, steam systems, and localised steam generators. The full list of equipment is listed on the Sustainable Energy Association of Ireland website here. There is a minimum spend of €1,000.
Comment
Thomas Cooney, IFA environment chair, welcomed the measure and said it would "improve overall efficiency of farm enterprises". He added that the measure will also help farmers to "reduce their carbon footprint and reduce greenhouse gases".
Read more
Budget 2017: full coverage
At today's Budget 2017 announcement, Minister for Finance Michael Noonan said the ACA scheme, which helps farmers invest in energy-efficient equipment, is to be extended to sole traders.
This implements the final recommendation of the agritax review and will help businesses in the farming and marine sectors to invest in energy-efficient equipment and receive the full allowances in the first year.
The extension of the grant to sole traders was one of the measures the Irish Farmers Association was looking for in its pre-budget submission.
The scheme allows companies and individuals to write off 100% of the purchase value of certain types of energy efficient equipment against their profit in the year of purchase. The purpose of the scheme is to encourage businesses to purchase plant and machinery that is highly energy efficient and thus make significant savings on energy costs and reduce carbon emissions.
In his 2015 Budget speech Minister Noonan announced the continuation of the scheme for a further three years to 31 December 2017.
The wide range of equipment in which farmers can invest includes lighting, refrigeration and cooling equipment. Under heating and electricity equipment, the range of items include wind turbines, boilers, steam systems, and localised steam generators. The full list of equipment is listed on the Sustainable Energy Association of Ireland website here. There is a minimum spend of €1,000.
Comment
Thomas Cooney, IFA environment chair, welcomed the measure and said it would "improve overall efficiency of farm enterprises". He added that the measure will also help farmers to "reduce their carbon footprint and reduce greenhouse gases".
Read more
Budget 2017: full coverage
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