The Weekly Times --- Page: 11 : 21 March 2007 Original article by David McKenzie
ABIX Summary
Upfront tax deductions on managed investment schemes are due to cease on 1 July 2007. Agriculture Investment Managers Australia (AIMA) claims the removal of the deduction will jeopardise rural projects worth $A700 million and 1,000-plus rural jobs. AIMA, which consists of Timbercorp, Great Southern and Macquarie Bank, is lobbying for the up-front deduction to be preserved for another three years. The Victorian Farmers' Federation wants the tax break removed as quickly as possible, while the Australian Taxation Office is said to be considering a one-year extension.
