Money Management --- Page: 25-26 : 22 February 2007 Original article by John Wilkinson
ABIX Summary
The Australian Government has announced that non-forestry-based managed investment schemes (MISs) will lose their tax-effective status. Shane Kelly, of Adviser Edge Investment Research, says the decision, which takes effect as from 1 July 2007, was not a great surprise, given the concern of some within the Government about the impact such schemes were having on the price of land and general agricultural markets. However, the suddenness of the decision was not expected. Tim Lee, of the Australian Agribusiness Group, says that the Government should defer its decision until June 2008.
