Income Tax Assessment Act 1997



Division 394 - Forestry managed investment schemes  

SECTION 394-15   Forestry managed investment schemes and related concepts  

A *scheme is a forestry managed investment scheme if the purpose of the scheme is for establishing and tending trees for felling in Australia.

The entity that manages, arranges or promotes a *forestry managed investment scheme is the forestry manager of the scheme.

A forestry interest in a *forestry managed investment scheme is a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not).

An entity that holds a *forestry interest in a *forestry managed investment scheme (other than the *forestry manager of the scheme) is a participant in the scheme.

A *participant in a *forestry managed investment scheme holds a *forestry interest in the scheme as an initial participant if:

(a) the participant obtains the forestry interest from the *forestry manager of the scheme; and

(b) the payment by the participant to obtain the forestry interest results in the establishment of trees.


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