Business Services Industry
[518] 12-month transitional period announced for tax treatment of agribusiness MISs.
Australasian Business Intelligence, April, 2007
Byline: Lisa Mak
Apr 12, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The taxation of agribusiness management investment schemes (MISs) will not change until 1 July 2008. The Tax Commissioner, Michael D'Ascenzo, has revealed that a one-year transitional period will apply before agribusiness MISs are subject to a revised tax treatment by the Australian Taxation Office. D'Ascenzo also reported that after 30 June 2008, product rulings will not be available on investments in agribusiness MISs.
Publication Date: 30 March 2007
AUSTRALIAN TAXATION OFFICE
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