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Northern Territory Cattlemen's Association

Pastoral Land Act amendments will reduce red tape and volatility

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Press Release

MEDIA RELEASE

The Northern Territory Cattlemen’s Association (NTCA) today welcomed the amendments to the NT Pastoral Land Act, introduced to Parliament by the Northern Territory Government.
NTCA President Tom Stockwell, of Sunday Creek Station near Daly Waters, said the proposed amendments provided simplicity and stability in calculating rents for pastoral businesses in the NT and will encourage investment and growth in the development of the NT cattle industry.

“The changes announced today by the Northern Territory Government provide certainty to pastoral enterprises, and provide investors with the security of tenure required to invest in diversification of the pastoral estate.
“The NTCA identified the issues in the Act some years ago, and has worked diligently with Department of Environment and Natural Resources staff to develop these objective and common-sense amendments that will deliver tangible benefits to business processes of both pastoral enterprises and the NT Government.
“Changing the methodology for calculating annual pastoral rent from an Unimproved Capital Value (UCV) based model to an Unimproved Carrying Capacity (UCC) model will simplify the calculation process and provide greater consistency and objectivity across the pastoral estate” Mr Stockwell said.
“Using the unimproved carrying capacities agreed to by the pastoral industry during the 2015 calculation, businesses now have the ability to budget accurately for their annual pastoral rent bill instead of having to wait until a valuation occurs, which can fluctuate significantly.”
In addition to the vastly improved pastoral rent calculation process, the NT Government also introduced important changes that allow for formal sub-lease arrangements to be registered to the title, enabling lease holders to attract investment from a third party and providing security for investors and their business partners.
Mr Stockwell stated that “currently, under the Pastoral Land Act, sub-leases cannot be issued for horticulture, agriculture, forestry or aquaculture purposes. The changes announced today will contemporise the Act and bring the sub-lease provisions in line with the non-pastoral use provisions to further promote development and diversification on pastoral leases.
“Ensuring the Pastoral Land Board has the capacity to deliver on its functions is critical for the pastoral industry. The NTCA looks forward to maintaining strong pastoralist representation on the Board as its membership is increased.
Mr Stockwell noted the cooperation and collaboration between the NT Government and the NTCA to deliver these changes as a good result for Territorians.

“The NTCA congratulates the Northern Territory Government for working closely with our Association and pastoralists to put these amendments in place. Not only that, but the changes also assist further growth and development of the pastoral industry, and therefore enhance the already significant contribution that the cattle industry makes to the Northern Territory economy”.

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(photo credit - Alison Haines)

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