Home       What's New?       Corporate       Business       Published Information       Ministers       Related Websites

Proposed Statutory Deduction Provision for Investments in Forestry Managed Investment Schemes (MIS)

Date:

Wednesday, 28 March 2007

Content ID:

1247

Abstract:

On 21 December 2006 the Government announced that, with effect from 1 July 2007, investors in forestry MIS would be entitled to immediate upfront deductibility for all expenditure provided that at least 70 per cent of the expenditure is expenditure directly related to developing forestry ('direct forestry expenditure'). The deduction would be provided by way of a separate statutory provision.

On 27 March 2007, the Government released exposure draft legislation for the proposed statutory deduction provision. The exposure draft legislation is available for download from the link below.

On 21 December 2006 the Government also announced that it was supportive in-principle of removing impediments to secondary markets for forestry MIS interests. The Government is still considering the issue.

Further integrity measures may be included in the legislation.

Interested parties are invited to provide written submissions by close of business on Friday 13 April 2007 to plantations@treasury.gov.au or to the following address:

Review of the Taxation of Plantation Forestry
C/- Department of the Treasury
Langton Crescent
PARKES ACT 2600

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Luke Berry  10.09kb
Marcarian & Co Chartered Accountants  81.27kb
Proposed Statutory Deduction Provision for Investments in Forestry Managed Investment Schemes  36.15kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Luke Berry  7.68kb
Proposed Statutory Deduction Provision for Investments in Forestry Managed Investment Schemes  108.85kb

Related Items:

There are no related items available for content item 1247.

Treasury Portfolio Ministers - Link to website MoreSuper  - Link to website Carbon Price Modelling - Link to Website Clean Energy Future  - Link to website Review of compensation arrangements for consumers of financial services - Consultation Paper  - Link to website

spacer