Information for landowners
Landowners in NSW who are interested in protecting and conserving biodiversity values on their land, may establish a biobank site and create biodiversity credits. After selling these credits, landowners can then receive annual payments to cover the cost of managing their biobank site in perpetuity.
Guide for landowners
The Guide to establishing a biobank site (09336 establishingbiobanksite.pdf, 1.27MB) provides comprehensive information about establishing a biobank site. Landowners who are thinking about entering a biobanking agreement are encouraged to read the guide so they can make an informed decision about whether to establish a biobank site. The guide helps landowners identify:
- whether their land is eligible for the establishment of a biobank site
- how to establish a biobank site
- the benefits and obligations of establishing a biobank site
- how to sell biodiversity credits and the role the BioBanking Trust Fund plays
- what happens after a biobank site is established.
Download Biobanking for landowners (09383bblowners.pdf, 410 KB), an introductory brochure about how BioBanking works for landowners.
Expression of interest
An expression of interest (EOI) is the first step in the process of establishing a biobank site and creating biodiversity credits. By lodging an EOI, landowners indicate this intention to potential credit buyers. EOI details are placed on the Biobank site EOI public register. Submitting an EOI does not carry any obligations and is free of charge.
The biobank site expression of interest form can be downloaded from Forms.
Applying for a biobanking agreement
When a landowner decides to apply to establish a biobank site, they need to have their land assessed by an accredited BioBanking Assessor.
After the assessment is complete, management actions are developed to maintain and improve the biodiversity values on the land. The management actions template (09694bbmanageactionstemplate.doc, 570KB) provides standard wording for these management actions. The biodiversity credits pricing spreadsheet (120599creditpr8.xls, 263KB) must be used to supply estimated costs for all the management actions.
The biobanking agreement application form can be downloaded from Forms.
Download an example of the biobanking agreement (bbagreementexample.pdf, 370 KB)
There are a range of tax implications for landowners entering into a biobanking agreement. Land tax is not payable on a biobank site. Tax implications of a biobanking agreement (201051Biobanktaxfacts.pdf, 151kb) outlines how income tax (including capital gains tax) and the goods and services tax (GST) may affect landowners. It also outlines the tax concessions available to landowners, due to BioBanking having conservation covenant status with the Australian Government. DECCW sought two rulings from the Australian Taxation Office, a private binding ruling on GST and a class ruling on income tax including capital gains tax.
Additionality may apply to public or private landowners who want to create a biobank site on land that already has other conservation management obligations. Additionality and its effect on credit creation (2010187Biobankadditionality.pdf, 118kb) explains when this will occur and how it will be assessed.
Page last updated: 13 May 2013