The West Australian --- Page: 37 : 26 March 2007 Original article by John Collett
ABIX Summary
The Australian Taxation Office (ATO) has confirmed its intention to issue a draft ruling on agribusiness schemes. There is speculation that disgruntled agricultural groups are considering legal action against the ATO for its re-interpretation of tax deduction rules in 2007. There is also speculation that the ATO will not formally introduce the changes from 1 July 2007, but from 1 July 2008. The Australian Government has reiterated its plans to legislate that forestry schemes remain exempt.
