New incentives for Farmers to Invest in Farm Safety Equipment

IFA National Farm Business Chairperson Rose Mary McDonagh has welcomed the inclusion in the Finance Act 2020 of updated Accelerated Capital Allowances for farm safety equipment.

The new scheme allows for 50% capital allowances per annum for two years for eligible equipment. Eligible equipment includes chemical storage cabinets and anti-backing gates, as well as adaptive equipment to assist farmers with disabilities.

This new scheme replaces the current one, whereby capital allowances are available at 12.5% per annum over eight years for agricultural equipment.

“This scheme will incentivise farmers to invest in equipment that will make their farms safer,” said Mrs. McDonagh.

IFA Farm Family & Social Affairs Chairperson Caroline Farrell added that too many families and communities have been devastated a farm accident or death. This very important scheme will support farmers to invest in new equipment so they can farm in a safer way.

A large proportion of all fatal workplace incidents (50%) occur in the agriculture, fishing and forestry sector according to figures reported by the Health and Safety Authority. Between 2010 and 2019, there were 214 fatal incidents on farms.

Of the 46 workplace-related deaths in 2019, 19 were in the agricultural sector, which is disproportionate to the share of the workforce (7.1%) employed in the sector.

Mrs. Farrell concluded by urging farmers to remain vigilant and farm safely in 2021.

More information on the scheme is available here.