Show download pdf controls
  • Carbon sink forests

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Tax Laws Amendment (2008 Measures No.1) Bill 2008 was introduced into parliament on 12 February 2008. At the time of printing these instructions, this Bill had not become law. The Bill proposes to provide concessional treatment for costs of establishing carbon sink forests by allowing:

    • an immediate deduction for a five–year period (commencing 1 July 2007), and
    • from 1 July 2012 onwards, a capital write-off at the rate of 7%, commencing from the start of the income year in which the trees are established and ending 14 years and 105 days later.

    The information on our website www.ato.gov.au will be updated once the Bill becomes law. You can also phone the Business Infoline.

    Last modified: 14 Jul 2020QC 27915