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A little less funding for timber croppers
2 Jul 2008
Promoters of tax-effective, managed investment schemes in agriculture raised $1.1 billion in money in the 2008 financial year, down 10 per cent on 2007, according to estimates from Adviser Edge. Forestry projects accounts for 69 per cent while almond, wheat, olive, abalone, walnut and other projects attracted the remainder. The Federal Court will hear a test case next month on whether the Tax Office is correct in its view that non-forestry schemes do not qualify for a tax deduction.
The Australian Financial Review, 2/7/2008
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