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  • myTax 2021 Forestry managed investment scheme income

    Complete this section to include income from forestry managed investment schemes.

    On this page:

    Things to know

    Forestry managed investment scheme (FMIS) rules aim to encourage the expansion of commercial plantation forestry in Australia through the establishment and tending of new plantations for felling.

    An FMIS can have two different types of investors – initial participants and subsequent participants.

    You are an initial participant if you meet all the following conditions:

    • the scheme is a qualifying scheme
    • you obtained your forestry interest from the forestry manager of the scheme
    • the payment you make for your interest results in the establishment of trees.

    You are a subsequent participant if you obtained your interest in an FMIS through secondary market trading.

    A promoter, arranger or manager of an FMIS can't be a participant in that scheme.

    Visit Initial participants or Subsequent participants to learn more about the amounts to include as income for:

    • Thinning receipts
    • Sale and harvest receipts for  
      • forestry interests no longer held
      • forestry interests still held.

    Completing this section

    You will need to work out your income from each forestry interest you held in an FMIS. To calculate this income amount, you can use the worksheet.

    To personalise your return to show forestry managed investment scheme income, at Personalise return select:

    • You had other income not listed above (including employee share schemes).

    To show your forestry managed investment scheme income, at Prepare return select 'Add/Edit' at the Other income banner.

    At the Any other income banner:

    1. For each forestry interest you held in an FMIS, select Add.
    2. At Type of payment, select Forestry managed investment schemes (FMIS), enter a description.
    3. At Amount, enter your income from forestry interests you held in an FMIS.
    4. Select Save.
    5. Select Save and continue when you have completed the Other income section.

    Worksheet

    Forestry managed investment scheme income

    Row

    Description

    Amount

    a

    Income amount as an initial participant from:

    • Thinning receipts
    • Sale and harvest receipts for:  
      • Forestry interest no longer held
      • Forestry interest still held

     

    $

    b

    Income amount as a subsequent participant from:

    • Thinning receipts
    • Sale and harvest receipts for:  
      • Forestry interest no longer held
      • Forestry interest still held

     

    $

    c

    Add row a and row b.

    This is income from forestry interests you held in an FMIS. Show it at Amount in myTax.

    $

    See also:

      Last modified: 01 Jun 2021QC 65200