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    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

    You are an initial participant in an FMIS if:

    • you obtained your forestry interest in the FMIS from the forestry manager of the scheme, and
    • your payment to obtain the forestry interest results in the establishment of trees.

    You are a subsequent participant if you are not an initial participant.

    A forestry manager of an FMIS is the entity that manages, arranges or promotes the FMIS.

    A forestry interest in an FMIS is a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not).

    Participant payments under an FMIS

    Initial participant

    You can claim at this section initial and ongoing payments made under an FMIS that you have made as an initial participant of the FMIS.

    Subsequent participant

    You can claim at this section ongoing payments made under an FMIS that you have made as a subsequent participant of the FMIS.

    Excluded payments

    You cannot claim a deduction at this section for any of the following payments:

    • payments for borrowing money
    • interest and payments in the nature of interest (such as a premium on repayment or redemption of a security, or a discount of a bill or bond)
    • payments of stamp duty
    • payments of goods and services tax (GST)
    • payments that relate to transportation and handling of felled trees after the earliest of the following  
      • sale of the trees
      • arrival of the trees at the mill door
      • arrival of the trees at the port
      • arrival of the trees at the place of processing (other than where processing happens in-field)
       
    • payments that relate to processing
    • payments that relate to stockpiling (other than in-field stockpiling).
      Last modified: 28 Jun 2018QC 55397