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Tax incentives for farmers keen on renewables

The last two years have seen increased interest in solar and wind farm companies looking to enter into option agreements to acquire land to potentially erect solar panels or wind turbines. Declan McEvoy, Head of Tax at IFAC, clarifies the tax incentives for farmers interested in renewables. The typical contract that a solar/wind farm company is looking to enter into with the landowner is broken down as follows: 1. Option…

Insights into tillage farming – IFAC

2021 was a good year overall for tillage farming – prices were up and weather during planting, growing season and harvesting was favourable. This resulted in solid yields and strong profit margins for crops, according to the Irish Farm Accounts Co-operative Society (IFAC) in a July 2022 article. While price inflation in fertiliser occurred in late 2021, it didn’t affect the 2021 crops’ profit margins. The real effect of the…

Dairy farmers positive about sector, report reveals

Ifac’s 2022 Irish Farm Report has revealed that 77% of dairy farmers have a positive outlook for the dairy sector, as overall dairy production increased by 6% in 2021. The net margins for dairy production additionally rose by 15.1c/L. The report entitled ‘Innovators – farmers embracing change’, contains Ifac’s fourth annual Irish farm survey. The report also shows that milk prices were up 16% on the previous year, while…