Plantation schemes’ licence conditions varied

STANDARD licence conditions relating to land on which primary production occurs in the operation of managed investment schemes has been varied to protect the interests of scheme members in land underlying the scheme.

The changes accommodate recent changes made to the tax

treatment of investments in primary production schemes.

Under State or Territory land titles law, licensees operating a timber plantation scheme must register an interest conferring the right to use the land on the scheme member.

The variations introduced by the Australian Securities and Investments Commission maintain this registration requirement, however, the new conditions allow licensees of timber plantation managed investment schemes up to nine months from the issue of schemes to effect registration, subject to the licensee satisfying certain criteria.

Previously, licensees were required to register before or immediately after the issue of interests in the scheme.

The variations were effected following consultation with affected licensees, the Australian Tax Office and Treasury regarding the introduction, last year, of a 12-month prepayment rule.

The 12-month prepayment rule means investors in timber plantation managed investment schemes may, in certain circumstances, obtain a tax deduction for expenses paid in one tax year in relation to "seasonally dependent agronomic activities" to be carried out in a subsequent tax year or years.

A copy of the pro formas can be obtained from or by phoning 1300 300 630.





Add your comment

BNIQ sponsored byECU School of Business and Law


6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
48 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer