The Age --- Page: B3 : 1 March 2007 Original article by Nassim Khadem
ABIX Summary
The Australian Taxation Office (ATO) will be allowed to decide on whether a transitional period applies to non-forestry schemes. Agricultural managed investment schemes (MIS) across horticultural fields such as avocados, nuts, olives, pearls, tomatoes and wine are expected to lose tax concessions from 1 July 2007. Australia's Assistant Treasurer, Peter Dutton, has been meeting with coalition backbenchers in February 2007, but on 28 February 2007 it was announced that the ATO will continue consultations with agribusiness investors, prior to deciding on its own transitional tax arrangements, which could affect around 7,000 contractors.
