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TLTB pays out $49m in lease payments

December 28, 2012 12:00 am

The i-Taukei Land Trust Board has paid out over $49 million in lease payments from January to November this year.

General Manger Alipate Qetaki says the amount paid out would have been higher if the December lease money was also paid out.

Qetaki says come 2013 – money paid to land owners will be higher as poundage – which TLTB deducts as administration fee has further been reduced.

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Originally poundage was 25 per cent.

It was first reduced by five per cent, then 15 per cent.

2013 will see another reduction of five to ten per cent.

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