Complete this section to include income from forestry managed investment schemes.
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 of 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.
- Thinning receipts
- Sale and harvest receipts for
- forestry interests no longer held
- forestry interests still held.
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:
- For each forestry interest you held in an FMIS, select Add.
- At Type of payment, select Forestry managed investment schemes (FMIS), enter a description.
- At Amount, enter your income from forestry interests you held in an FMIS.
- Select Save.
- Select Save and continue when you have completed the Other income section.
Income amount as an initial participant from:
Income amount as a subsequent participant from:
Add row a and row b.
This is income from forestry interests you held in an FMIS. Show it at Amount in myTax.
See alsoThese myTax 2020 instructions are about income from forestry managed investment schemes.