Business Services Industry
July 2008 sunset for MIS tax breaks.
Australasian Business Intelligence, March, 2007
Byline: Fleur Anderson
Mar 27, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Australian agribusiness schemes have been allowed one more year before the end of tax breaks. In February 2007, the Australian Government announced that upfront tax deductions on investments in non-forestry managed investment schemes would be disallowed from 30 June 2007. Protests from agribusinesses and Coalition MPs have forced the Government and the Australian Taxation Office to decide to instead end the tax breaks from July 2008. The industry had lobbied for a three-year transition and still plans to test the decision in the High Court of Australia.
Publication Date: 28 March 2007
AUSTRALIAN TAXATION OFFICE
AUSTRALIA. DEPT OF THE TREASURY...
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