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Initial participant calculation

How to calculate income from a forestry managed investment scheme - initial participant.

Last updated 25 June 2019

  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.

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.
     
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

$

QC58766