A forestry interest in a forestry managed investment scheme (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).
You are an initial participant in an FMIS if you meet the following conditions:
- you obtained your forestry interest in the FMIS from the forestry manager of the scheme
- your payment to obtain the forestry interest in an FMIS results in the establishment of trees.
You are a subsequent participant if you are not an initial participant.
For more information, see Forestry managed investment scheme income.
Completing this section
You will need to know if you are an initial participant or a subsequent participant.
- For each forestry managed investment scheme (FMIS) income, select Add.
- At Type of payment, select Forestry managed investment schemes (FMIS) and enter information into the corresponding fields.
See Steps 1 to 8 to work out the total FMIS income amount.
Where Step 8 instructs you to write an amount at A item 23, enter this in myTax at Amount.
- Select Save.
- Select Save and continue.