Pre-1990 Forest Land Allocation Plan Update

MAF has recently advised of new tentative dates for pre-1990 forest land owners to apply for their partial compensation/free allocation of credits - June 2010 to June 2011. This is a one off period to claim this credit allocation. Confirmation of these dates hinges on the Forestry Allocation Plan being finalised, probably in April or May 2010.

NZUs will be allocated to the following categories of landowners of pre-1990 forest land in the following amounts:

18 NZUs for each hectare of eligible land that is, or was, Crown forest licence land transferred to an Iwi under a Treaty of Waitangi settlement on, or after, 1 January 2008.

39 NZUs for each hectare of eligible land that was transferred (changed ownership) on, or after, 1 November 2002. What constitutes a land ownership change will be detailed in the finalised Forestry Allocation Plan.

60 NZUs for each hectare of eligible land not covered by the categories above.

Approximately 38% of the overall entitlement is to be transferred in Commitment Period 1 (1 January 2008-31 December 2012), and the remaining units (approximately 62%) after 31 December 2012. Should the rules surrounding the deforestation of pre-1990 forest land change for Commitment Period 2, the Crown has the option of withdrawing the remaining 62% of the allocation.

June 2010 to June 2011 is also the tentative timeframe to apply for deforestation exemptions for forest owners who have yet to deforest. If you have already deforested (changed land use) and are eligible for an exemption, you can apply for the exemption now.

If you have not already registered with PF Olsen to apply for your pre-1990 allocation or exemption and would like to receive further details on this service, please email Colin Hercus at colin.hercus@pfolsen.com.