четверг, 1 марта 2012 г.

Fed: ATO's assurances on plantations welcome says Labor


AAP General News (Australia)
08-14-2001
Fed: ATO's assurances on plantations welcome says Labor

CANBERRA, Aug 14 AAP - Australian Tax Office assurances about legitimate managed plantations
would ease investors' concerns and help the timber industry, the federal opposition said
today.

Tax Commissioner Michael Carmody yesterday said investors would get the tax benefits
they claimed for investments holding a valid Tax Office product ruling, provided the arrangement
was implemented as set out in the ruling.

"It is clear that the Tax Office's crackdown on mass-marketed tax abuse schemes has
severely impacted on investor confidence in prospectus-based plantation companies," opposition
forestry spokesman Laurie Ferguson said.

"Investors thus have certainty about the tax consequences of such investments."

Mr Ferguson said Labor was committed to expanding Australia's softwood and hardwood
plantation estate to provide an economically viable, reliable and high quality wood resource
for the timber industry.

"The scale of planting required is clearly beyond the financial capacity of state forest
agencies," he said.

"Prospectus-financed plantation companies have a positive contribution to make in mobilising
investment in rural Australia and in developing further processing and value-adding opportunities."

AAP jph/kjp/cjh/sb

KEYWORD: TAX PLANTATIONS

2001 AAP Information Services Pty Limited (AAP) or its Licensors.

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