A MFTIP is a great way to get to know your forest, learn what it is capable of doing for you, and take advantage of major tax savings.
Enrolling a property into the Managed Forest Tax Incentive Plan (MFTIP) typically pays for its self in 1 or 2 years. The first step in the process is getting to know what the owners objectives are for the property. The second is a desk study using aerial photography to gain a basic understanding of the area. The next step is a site visit to confirm the area and collect information.
The product is a plan with maps that describes the property and explains the pathway for the owner to achieve their objectives. The maps showing the property delineated into unique features such as forest cover types, water features, fields, roads, trials etc. Each area is described in enough detail to meet the objectives to form an action plan. The action plan outlines the steps that are required to achieve or maintain the property owners objectives which might include: lettings the forest grow without intervention, invasive species removal, tree planting, logging for income, attracting animals, hunting, tending etc.
The annual deadline for submitting a plan is June 30th.
Contact us here for a free on site consultation, call or text 416 427 0595 .
