Forests (Payment of Money) Order 2014
2014 Order in Council covering income tax and payments to landowners for permanently protecting native forest with high conservation values on their land.
A payment to landowners for permanently protecting native forest with high conservation values on their land can be exempted from income tax if the appropriate Order in Council is made.
An Order in Council, made under the Forests Amendment Act 2004 (see Tax Information Bulletin Vol 16, No 8, p19) grants an income tax exemption in relation to a payment made by the Nature Heritage Fund to the owners of a block of land in the West Rowallan Survey District. The payment made in January 2014 was in exchange for the owners entering into conservation covenants over the land.
The Order in Council, which came into effect on 24 July 2014, is part of the Government's SILNA (South Island Landless Natives Act 1906) Policy Package announced in 2002.
Forests (Payment of Money) Order 2014 (LI 2014/193)