Köp av skogsfastighet : en fallstudie

University essay from SLU/Dept. of Rural Buildings and Animal Husbandry [LBT]

Abstract: The price of Swedish forest properties has gone up by 77 percent during the past five years. Amongst private forest managers the high price level signals optimism and confidence for the future. Many forest owners manage large capital in the forest and a planned economy is to a larger extent demanded to achieve a positive economic result. Forest is long-term and to maximize a single year without planning for the years to come results in less optimization of the parameters available to achieve a favourable economic result. This case study investigates the investment of two forest properties situated in Götaland. The management of the forest has been planned for both properties during a period of ten years. Two alternatives of felling are compared with one another to investigate how they affect the investment. The first two years after the investment large fellings are made and this is compared to dividing the felling over the period. The case study also investigates how the investment is affected by Fastighetsreglering and Rationaliseringsförvärv. Explanation of Fastighetsreglering: It is sometimes possible to leave out registering a new entry into the land register if the purchaser already owns a property near by the newly acquired property. If this is the case the land needs to be transferred under the same registration as the earlier owned property. Except avoiding stamp duty Fastighetsreglering can be a reason to claim Rationaliseringsförvärv. Explanation of Rationaliseringsförvärv: There are several possibilities to make use of Skogsavdrag with less felling. If the purchase is a so called rationaliseringsförvärv the deduction can be used coin for coin against revenues from the forest. Explanation of Skogsavdrag: Purchase of land does not allow any depreciation since land is considered to have a permanent value. To make a certain deduction on the purchase price of the forest possible for purchaser, rules of Skogsavdrag has been added. Half of the purchase price of the forest constitutes the foundation of Skogsavdrag. The used Skogsavdrag is a latent tax debt until the day the property is sold. A goal of the study was to get information to base the decision on how felling should be planned for the properties in the future. Another goal was to investigate weather Fastighetsreglering med Rationaliseringsförvärv should be carried out. The result of the study shows that the difference between the economic outcome of the two felling alternatives were not significant but less of the owners money is required if the felling is divided over the period. The result also showed that the use of Rationaliseringsförvärv results in fewer loans but the effect of Rationaliseringsförvärv is relatively small since the property has large loans The high interest reduces the balance and the effect of this is less contingency to make use of the possible Skogsavdrag. A conclusion to be made from the study is that in order to benefit from Rationaliseringsförvärv and Skogsavdrag one has to be able to buy a property with a less loan and more own money

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