16 April 2004 Media Release

Refunded Tax Monies to be Invested

On 26 February 2004 the Privy Council ruled in favour of the Crown Forestry Rental Trust in its long-standing dispute with the Inland Revenue Department.

As a result of this decision the Trust expects over $44 million to be returned by the Inland Revenue Department.

The returned monies will be invested according to the Trust Deed and the Trust’s investment strategy.

The returned monies will contribute towards generating a larger interest stream to assist in the resolution of claims over Crown forest land.

Direct assistance to claimant groups will continue to be made within the guidelines of Crown Forestry Rental Trust funding policy and benchmarks.