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Land value distortion to end
14 Feb 2007
Managed investment schemes (MIS) have caused land values in some parts of Australia to more than double over the past few years. Investors in non-forestry agribusinesses such as growing olives, avocados, tomatoes and truffles have been receiving an income tax reduction for their investment. Fertile land in rural areas has been bought up by MIS managers, pushing up the price of rural land. Sam Paton, agricultural economist and land valuer, says that MIS companies are responsible for a distortion of land values in parts of regional Australia. The federal government plans to abolish the tax concessions which could restore some normality to rural land values.
The Financial Review, 14/2/2007
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