Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Forest Levy takes important step

FOREST GROWERS LEVY TRUST
MEDIA RELEASE
17 July 2013

Forest Levy takes important step

An application for the introduction of a levy on harvested logs has been lodged with Associate Minister for Primary Industries Hon Jo Goodhew. 

“This is an important step in the process of getting a Levy Order under the Commodity Levies Act and follows a successful forest grower referendum in March,” says Forest Growers Levy Trust chair Geoff Thompson.

“Officials will now take several months to assess the application and all the accompanying detail about levy collection, budgeting and ongoing structure. We are fundamentally on target to introduce the levy from 1 January 2014.” 

The Trust has consulted mills, log marketing companies and export marshalling companies about the systems that need to be in place to secure the log harvesting data needed for the Trust to collect the levy.  

“Feedback from these discussions has been very helpful and will strongly influence the shape of our data collection system. Log buyers will play a central role in the system and the minister needs to be satisfied about the particulars of collection and the cooperation requested from participants,” Mr Thompson says.

The Trust will continue to keep potential levy payers informed of developments, but this is not easy because there is no central database of forest growers to allow direct contact. Instead the Trust is using its ForestVoice website, industry publications and other media.

The month long levy referendum had a successful outcome with 502 growers (86.3%) voting “yes”. The results on numbers voting and hectares represented by the “yes” vote were the same. Analysis of the vote satisfied the Trust that the turnout was on a par with similar commodity referendums.

The proposed levy rate is 27 c a tonne of harvested wood in the first year and can be raised to a maximum rate of 30 c a tonne over the 6 year term of the levy order. With sharply increased harvesting now occurring, the income from the levy is likely to exceed $6.5 m annually. 

Most of this will be applied to industry-good projects like improved health and safety, ensuring high levels of protection against bio-security risks and researching many issues from improving seed genetics to harvesting methods.

“The Trust will be working closely with the minister’s advisers to ensure that all necessary input for the issue of the Levy Order is provided,” says Mr Thompson.

“This is a very important step to unify and boost the forest industry. It produces exports of similar value to meat exports, but has potential to expand more quickly over the next 10-15 years with positive leadership and encouragement from the government,” concluded Mr Thompson.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




REINZ May Data: House Price Rises Continue; Auckland Hits New Record Median Price Again

Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand... More>>

Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>


E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>



Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>