National has announced a new system to calculate rents for high country pastoral leases, which will benefit a significant number of farmers.
There are 231 pastoral leases covering 1.6 million hectares of pastoral land, mainly in Canterbury and Central Otago. The current system for setting rents is complicated, costly, and often produces disputes over both the process and the result.
The new approach will see rents for Crown pastoral land based on the earning capacity of the land, and will consider other factors such as pastoral economic conditions. It will be easier to administer, more transparent, and provide a fair rent.
National has worked closely with stakeholders. We’re giving farmers greater certainty, and letting them get on with their jobs instead of fighting bureaucracy.
More information: http://www.beehive.govt.nz/release/govt+announces+new+pastoral+lease+rent+policy
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