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Review of Taxation Treatment of Plantation Forestry

Date:

Wednesday, 22 June 2005

Content ID:

997

Abstract:

In the 2005-06 Budget the Government announced that it would conduct a review of the application of taxation law to plantation forestry in the context of the Government’s broader plantation and natural resource management policies.

The review is to address:

  • the commercial viability and current tax treatment of plantation investment;
  • whether the operation of the Income Tax Assessment Acts impedes investment in longer term forest rotations which produce higher value products;
  • the role of State and Territory Governments in plantation industry development as investors, growers and land managers, and any implication this has for competitive neutrality with regard to tax liabilities and incentives;
  • the capacity to adapt existing tax policies to contribute to achieving the Australian and State Governments’ desire to achieve a greater integration of plantation and natural resource management policies to improve the management of salinity and water quality; and
  • the relative roles and effectiveness of tax system and expenditure programmes in the delivery of assistance to the industry.

The joint media release announcing the review and the terms of reference is available from the Minister for Revenue and the Assistant Treasurer's website.

Interested parties are invited to provide written submissions on the terms of reference. Submissions will be publicly available through the Treasury website unless correspondents request confidentiality. Publicly available submissions are accessible through the Related Items link below.

Submission closing date: end-July 2005

Address written comments to:

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

Email: plantations@treasury.gov.au

Documents Available:

No Documents available.

Related Items:

Media release and terms of reference for the Review of the Taxation of Plantation Forestry - 17/06/2005
This is the media release and terms of reference for a Government review of the application of taxation law to plantation forestry.
Submissions: Review of Taxation Treatment of Plantation Forestry - 30/06/2005
The abstract for this content item contains formatting that cannot be displayed in this list. Please follow the hyperlink to the item for more detail.

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