Overview
A number of events have caused a great deal of uncertainty for investors in managed investment schemes in the agribusiness sector. These include:
- the scheme manager going into administration
- the scheme being wound up early
- appointment of new scheme managers
- scheme assets being sold.
Your investment may have been managed by Great Southern Limited, Timbercorp Limited, Environinvest Limited, Palandri Wines Pty Ltd, Australian Bight Abalone Pty Ltd, Forestry Enterprises Australia (FEA), Rewards Group Limited or Willmott Forests Ltd.
The collapse of, or financial difficulties being experienced by, these companies may have changed the tax consequences for your investment.
We suggest you review your records as the companies listed above managed a variety of agricultural and forestry businesses, and their names might not be immediately familiar. The investments included grape, berry, avocado, mango, citrus, olive, almond, beef, abalone and forestry projects.
To help you understand your new obligations, we have prepared information about the action you need to take and answers to questions you may have.
If you use a tax agent, talk to them about the effect on your tax obligations. You'll need to give them all the details about your investment to help them complete your tax return.
To further assist you, we have developed information you can refer to when preparing your tax return. This information applies to three separate sets of circumstances:
Last Modified: Thursday, 3 January 2013