Gross Value of Production for the Forestry Industry for 2020-21

Overview

The Forestry Marketing and Research and Development Services Act 2007 was enacted to provide a framework for the marketing, research, and development services within the forestry industry. This legislation was introduced to address the need for a structured approach to the promotion and growth of the forestry sector in Australia, ensuring that the industry benefits from robust market intelligence, research initiatives, and development services. Enacted by the Australian Parliament, the policy objective of this Act is to facilitate the sustainable growth and development of the forestry industry, thereby contributing to the economy and ensuring the sector's long-term viability. Joanna Stanion, a delegate of the Secretary of the Department of Agriculture, Water and the Environment, has determined the Gross Value of Production for the forestry industry for the 2020-21 financial year to be $2,591,536,151, reflecting the sector's contribution and performance in that period.

Scope and Application

The Forestry Marketing and Research and Development Services Act 2007, through the determination by Joanna Stanion, a delegate of the Secretary of the Department of Agriculture, Water and the Environment, specifies the Gross Value of Production for the forestry industry for the financial year 2020-21. This determination is a crucial aspect of the legislative framework governing the forestry industry in Australia, impacting all entities engaged in forestry activities. The Gross Value of Production, set at $2,591,536,151, provides a quantifiable measure that influences funding allocations, policy decisions, and industry standards within the forestry sector. The Act's reach extends across the Commonwealth, ensuring a unified approach to the valuation and subsequent support mechanisms for the forestry industry, without specific exclusions or exemptions noted within this determination. The legislative application may be further extended or modified through subordinate instruments as necessary to adapt to evolving industry needs and economic conditions.

Key Provisions

The main operative sections of the Gazette C2022G00097 include the declaration of the Gross Value of Production (GVP) for the forestry industry for the year 2020-21. Pursuant to subsection 9(4)(a) of the Forestry Marketing and Research and Development Services Act 2007, the delegate of the Secretary, Joanna Stanion, has determined the GVP to be $2,591,536,151. This determination is crucial as it sets the economic benchmark for the forestry industry for the specified period, which can influence funding allocations, policy decisions, and industry performance evaluations. The declared GVP serves as an official economic indicator that reflects the total value of all goods produced by the forestry sector during the financial year. The obligations and requirements imposed by the Act on the parties it governs are primarily centred around the accurate reporting and declaration of the Gross Value of Production. The delegate of the Secretary, in this case, Joanna Stanion, must ensure that the GVP is determined and published in accordance with the statutory provisions. This includes gathering relevant data, conducting necessary analyses, and making a determination that reflects the true economic output of the forestry industry. The Act mandates that this determination be made transparently and in compliance with legislative requirements, ensuring that the figure declared is both accurate and reflective of the industry's performance. There are no explicit offences, penalties, or consequences mentioned in the text for the breach of the Act's provisions related to the declaration of the Gross Value of Production. However, the importance of the GVP determination suggests that any failure to accurately declare this figure could have significant implications. Inaccuracies could lead to misallocation of funds, improper policy decisions, or misrepresentation of the industry's economic health. While specific penalties are not outlined in the text, the potential repercussions of non-compliance could include legal challenges, financial losses, or reputational damage to the department responsible for the determination. Ensuring compliance and accuracy is therefore paramount for the responsible parties.