Deadlines for opting in or out of the emissions trading scheme and for claiming carbon credits are fast approaching and doing nothing is "not an option".
BDO Rotorua partner Stephen Graham said owners of pre-1990 forest were automatically in the scheme, unless they applied for an exemption by September 30.
"You do
not want to find yourself compulsorily in there because you did not apply in time. If you deforest or trees die from natural causes, you will find yourself liable."
To be in the scheme, pre-1990 forests need to be at least 50ha, with an average width of 30m and trees that mature to 5m tall or higher and provide more than 30 per cent crown cover.
Forest owners who choose to remain in the scheme can apply for carbon credits to compensate for the liabilities entailed in land-use changes and, accordingly, to land prices, but Graham warned the November 30 deadline for allocated credits was also firm and, if you missed it, you missed out.
"New Zealand units are trading at about $20. The maximum allocation is 60 units per hectare so that could be as much as $1200 a hectare.
"That's not a bad outcome."
Speaking at the Novotel Lakeside yesterday, he said eligibility depended on the type and size of forest and on how long the person has owned the land and it was important landowners recognised their options and any resulting liabilities.
"A lot of farmers have planted trees and forgotten about them, but you cannot do that now. There are financial implications to doing nothing or actively deforesting."
Graham said people in the Rotorua region should have no difficulty finding help with their emissions trading decisions.
"We live in a forestry area and there is plenty of help out there. People such as solicitors and accountants have a lot of knowledge."
Important ETS deadlines
September 30, 2011 - Last day to apply for an exemption for 50ha or less
November 30, 2011 - Final day to claim carbon credit allocations on pre-1990 forests
December 31, 2012 - Applications to join the scheme for post-1989 forests must be filed
