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  • Initial participant calculation

    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
    1. Did you receive thinning proceeds from your forestry interest?

    No − Go to step 2.

    Yes − Include the actual amount you received at row d in Worksheet 2. Go to step 2.

    1. Did you receive sale and harvest receipts from a forestry interest you no longer hold?

    No − Go to step 3.

    Yes − Include the market value of the forestry interest at the time of the CGT event at row e in Worksheet 2 if the following applies:

    • a CGT event happened and you no longer held your forestry interest as a result of the CGT event (for example, because you had sold the interest to another person, or you had received harvest proceeds), and
    • you
      • claimed a deduction, or
      • can claim a deduction, or
      • would be entitled to claim a deduction by for a CGT event happening within four years after the end of the income year in which you first pay an amount under the FMIS.
       
    1. Did you receive sale and harvest receipts from a forestry interest you still held?

    No − Go to step 4.

    Yes − Include the amount by which the market value of your forestry interest was reduced at row f in Worksheet 2 if the following applies:

    • a CGT event happened and you still held your forestry interest (for example, because you have sold part of your interest or there was a partial harvest), and
    • you
      • claimed a deduction, or
      • can claim a deduction, or
      • would be entitled to claim a deduction but for a CGT event happening within four years after the end of the income year in which you first pay an amount under the FMIS.
       
    1. Transfer the amount calculated at row 'g' in Worksheet 2 to row 'a' in Worksheet 1.
    Worksheet 2: Initial participants

    Row

    Description

    Amount

    d

    Thinning proceeds (from Step 1)

    $

    e

    Sale and harvest receipts from a forestry interest you no longer hold (from Step 2)

    $

    f

    Sale and harvest receipts from a forestry interest you still held (from Step 3)

    $

    g

    Add row d and row e and row f

    $

      Last modified: 28 Jun 2018QC 55399