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Tax Laws Amendment (2008 Measures No. 1) Bill 2008

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The Parliament of the

Commonwealth of Australia








Tax Laws Amendment (2008 Measures No. 1) Bill 2008


(1)           Page 23 (after line 21), at the end of the bill, add:

Schedule 9—Additional ministerial guidelines

Income Tax Assessment Act 1997

1  After subsection 40-1010(3)


          (3A)  The guidelines provided for in subsection (3) must ensure that:

                     (a)  the establishment of trees does not impinge on the economic viability of current regional economies; and

                     (b)  the establishment of trees gives preference to the current farming and grazing community and only utilises land not properly suitable for sustainable farming or prime grazing; and

                     (c)  land with the capacity for and a history of successful farming or prime grazing is not eligible for the establishment of trees.

[additional guidelines]