Business Services Industry
Rural schemes plan a more taxing future.
Australasian Business Intelligence, July, 2007
Byline: Cathy Bolt
Jul 16, 2007 (The West Australian - ABIX via COMTEX) -- Rural investment companies in Australia are preparing for the loss of their status of 100% tax deductibility. Timbercorp and Great Southern both aim to launch new rural retail funds without the upfront tax deductions that have been a major factor in the industry's growth. Great Southern said it expects to launch a more mainstream investment product within three months. The Australian Taxation Office has announced that upfront tax deductions for investors in managed investment schemes other than forestry will end from the start of 2008-09.
Publication Date: 16 July 2007
GREAT SOUTHERN LIMITED - ASX GTP
TIMBERCORP LIMITED - ASX TIM
AUSTRALIAN TAXATION OFFICE...
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