New Zealand Emissions Trading System NZETS

The NZETS missed a fatal bullet last week when the draft legislation included changes to the income tax act 1994 and 2007 meaning that forest owners would not have to pay tax unless they sold their credits. The legislation modifies the definition of trading stock to exclude NZU or new zealand units the currency of the NZETS

see http://www.eitg.co.nz or email nzets@eitg.co.nz to sign up for the Carbon Monitor