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Senate passes Landcare Tax Rebate



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PIENet - DPIE98/28T - 3 July 1998 Page 1 of 1

Media Release Judith Troeth DPIE 98/28T

Parliamentary Secretary to the Minister for Primary Industries an d Energy

3 July 1998

SENATE PASSES LANDCARE TAX REBATE

Parliamentary Secretary to the Minister for Primary Industries and Energy and Victorian Liberal Senator Judith Troeth is pleased to report that the Federal Government's Landcare tax legislation has been passed by the Senate.

"This means that primary producers who engage in environmentally friendly farm practices through landcare projects will be eligible for substantial tax rebates under the Natural Heritage Trust," Senator Troeth said.

"The passing of the legislation fulfils a Coalition election commitment to provide a tax rebate of 34 cents in the dollar for use of landcare projects and recognises the efforts of landcare groups in rural and regional areas.

"The rebate applies to taxpayers with a taxable income of $20,700 a year or around 70 per cent of farmers and there will be an annual limit of $10,000 for eligible landcare expenditure.

"This will assist fanners and rural landholders on low incomes to invest in works for sustainable land and water management on their own land, as part of their regular business operations," Senator Troeth said.

"Claims for the rebate can be made for such work as levee or contour banks to control soil erosion, drainage works to control salinity and the eradication of pests.

The rebate is available for the same types of expenditures and over the same time frame as the current tax deductions for preventing and treating land degradation and for conserving or conveying water (Subdivisions 387-A and B respectively of the Income Tax Assessment Act 1997).

"The Landcare Tax Rebate is a further incentive for farmers to invest in landcare Programs and to maintain environmentally sustainable land management practices," Senator Troeth said.

Further inquiries:

Senator Troeth's office Alex Staples (02) 6277 3002 or 0417 449 921

Please note: A joint statement by the Treasurer, Peter Costello, and the Minister for Primary Industries and Energy, John Anderson, on the tax rebate for landcare activities is available at this site: http://www.dpie.gov.au/dpie/pr/media_releases/anderson/98_79aj.html

it €k lit © m O I I 1 ° I P IE N e t P IE N e t P IE N e t C opyright \ C o n ta c t In f o 1 C o n te n ts ] Last updated 3 July 1998.

http://www.dpie.gov.au/dpie/pr/media_releases/troeth/98_28t.html 18/08/1998