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Forestry schemes amendment to 4-year holding period requirement
- Piper Alderman
- -
- Australia
- -
- February 26 2010
One of the requirements to obtain a tax deduction for an investment in a forestry managed investment scheme where you are an initial investor is that a CGT event must not occur with respect to your forestry interest for a period of 4 years
Failure of forestry schemes applicability of deductions for Division 394 forestry schemes
- Piper Alderman
- -
- Australia
- -
- November 30 2009
Under Division 394, a deduction is allowed for amounts paid to acquire a forestry interest provided certain conditions are met, one of which is that the trees must be planted within 18 months after the end of the year of income in which amounts were first paid under the scheme
Failure of forestry schemes applicability of deductions for pre-Division 394 forestry schemes
- Piper Alderman
- -
- Australia
- -
- November 30 2009
The Commissioner has issued a draft tax determination to deal with the problem of trees not being planted in accordance with the scheme agreements notwithstanding the fact that deductions for expenditure on seasonally dependent agronomic activities have already been claimed under the relevant provisions of the Tax Acts
Current Search
- Jurisdiction - Australia
- Author - Dahnia Mithiran
- Workarea - Environment