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End of attention
Harvests and sales are CGT events because these events result in the fund no longer holding some or all of its forestry interest.
The fund is an initial participant in an FMIS if:
- the fund obtained its forestry interest in the FMIS from the forestry manager of the scheme, and
- the fund's payment to obtain the forestry interest in the FMIS results in the establishment of trees.
The fund is a subsequent participant if it obtains an interest in a forestry managed investment scheme through secondary market trading. This means it acquired its interest other than as an initial participant, usually by purchasing that interest from an initial participant in the scheme.
The 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 the benefits produced by the FMIS (whether the right is actual, prospective or contingent, and whether it is enforceable or not).
Print X in the appropriate box.
If you selected Yes, you must complete a Capital gains tax (CGT) schedule 2011 and attach it to the fund's tax return. In addition to calculating your capital gain or loss, you may also need to include income at X Forestry managed investment scheme income.
Last modified: 11 Jan 2012QC 28016