In this webinar, we will recap the Emissions Trading Scheme, how it works and how it applies to forestry owners in New Zealand.

We will work through the income tax and GST considerations associated with the purchase, receipt, sale and surrender of emissions units.

We will also cover the sale/purchase of units with standing timber, and the application of the Purchase Price Allocation Rules and avoidance rules to such transactions where there is a mix of saleable and units to be surrendered at harvest.

We will consider practical examples to assist in understanding how the above rules apply and the things to consider when advising clients on these issues.

Upon satisfactory completion of this activity, you will be able:

• appreciate the tax issues that arise on being a participant in the Emissions Trading Scheme
• understand the issues arising when entering into forestry transactions where the forest is subject to the Emissions Trading Scheme
• understand the principles set out in PUB00452: Income tax and GST – forestry activities registered in the Emissions Trading Scheme

Suited to

Accountants and other professionals advising agricultural businesses at all levels but targeted at those who will have some familiarity with the content and ETS basics.

Total CPD Hours: 1.00 (50 mins content + 10 mins Q&A)

PRESENTER:

Scott Mason, Senior Partner, Findex
Scott Mason has over 30 years’ experience advising on tax matters, primarily for larger owner-managed businesses throughout NZ. He is a regular presenter for TEO Training and CCH, and Chair of the CAANZ Tax Advisory Group. Scott is a professional director across a range of industries including forestry. Scott is renowned for making complex issues understandable.