Two key deadlines for pre-1990 forest landowners are soon upon us. Both are significant for forest owners. They are:
- Applications for an exemption from the deforestation liability for pre-1990 forest land owners who have less than 50 hectares of forest close on 30 September this year. This exemption is a one-off opportunity available to land owners to exempt pre-1990 forest from the NZ ETS. For those who aren't exempted they will be liable if they deforest more than 2 hectares of their forest over a five year period, and will have to surrender NZUs to account for this.
- Applications for a free allocation of NZUs for pre-1990 forest owners close on 30 November this year (although the Review Panel recommends the Government consider an extension). The allocation is to partially compensate landowners for the loss in the value of their land as a result of the NZ ETS. Depending on when the landowner became the owner of the land, it is possible to receive either 39 or 60 NZUs for each hectare of eligible land.