Published:
-
-
Author: Francis Farragher
~ 2 minutes read
GALWAY farmers have been reminded that the deadline for the submission of applications for the next tranche of the Targeted Agricultural Modernisation Scheme (TAMS III) is Friday, April 12 next.
The agribusiness firm, Ifac, has advised farmers that grants available in TAMS III come at a rate of 40% (for up to a €90,000 investment) and 60% if an applicant is a young, trained farmer.
Ifac has also reminded farmers that the Low Emissions Slurry Equipment grant is one ‘that’s often forgotten about’ with a spend of €40,000 (€16,000 grant) allowed for such equipment – or €60,000 (€24,000 grant) for a partnership.
Again, the grant rate of 60% applies for a ‘Young Trained Farmer’ – in those cases the application must be made through the Young Farmer Capital Investment Scheme (YFCIS).
Tom O’Farrell, Partner at Ifac’s Athenry office, cautioned however that the key advice was not to rush a decision on investment for the sake of meeting a deadline.
“This could be far more costly than delaying your application and making the right investment for your farm. Always get expert advice to help you plan for the future,” said Tom O’Farrell.
He outlined key considerations for farmers to take into account before they decided on any investment. These are:
■ Should you make the investment?
■ Will the capital expenditure give a return on investment?
■ Have you adequately financially planned the investment?
■ If borrowing, have you the required borrowing capacity?
■ Consider the Value Added Tax (VAT), Income Tax and Capital Repayment Trap.
Pictured: Good grants for LESS equipment.
For more, read this week’s Connacht Tribune:
Connacht Tribune Digital Edition App
Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite HERE.
Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.
More like this:
Gort teen is big winner as five Galway artists are recognised in Texaco Children’s Art Competition
A teenage artist from Gort was the big winner as Galway took home five prizes from this year’s 70...
Galway poets make final crowdfunding push to bring Poetry Jukebox to the West
It looks like the periscope in a submarine – but this is a concept to take to the highways and by...
Galway graduate suggests greater use of sport to promote daily use of the language
A young Galway man with a passion for sport and the Irish language has told a Dáil committee that...
Carrabane pupils to feature in online magazine with rap about Sustainable Development Goals
The work of pupils from Carrabane School has featured in an online magazine. It features the work...
Over 400 organ donors and families in Salthill to be honoured in ceremony in Salthill
Over four hundred organ donor recipients and their families will be celebrated at a special cerem...
Galway’s Boston Scientific and Merit Medical awarded best in class for Workplace Wellness
Galway’s Boston Scientific and Merit Medical have been awarded best in class for Workplace Wellne...
Interim CEO appointed at Galway Chamber
An Interim CEO has been appointed at Galway Chamber. Deirdre Mac Loughlin is currently a member o...
Loughrea company aquired by leading pharmaceutial and life sciences company
Neylons Facility Management, based in Loughrea, has been aquired by a leading pharmaceutial and l...
Glenamaddy student wins top prize at SciFest@TUS Athlone
A Glenamaddy student has taken home the top prize at SciFest@TUS Athlone, one of Ireland’s larges...