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Forestry scheme tax breaks under fire
1 Feb 2008
The National Farmers Federation is urging the federal government to review the tax breaks for forestry investment schemes which will cost $425 million within three years. A decision by the Howard government last year allowed forestry-based managed investment schemes (MIS) to continue to qualify for deductions even though the tax office had ended such perks for horticultural investments such as olive groves, almond plantations and vineyards. The NFF's manager for economics, Charlie McElhone, said that investment in such schemes was still being driven by the tax breaks available rather than the long-term profitability of the investment which distorts commodity markets and land values.
The Australian Financial Review, 1/2/2008
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