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Hawker welcomes extension of conservation tax incentives.



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M e d i a

R e l e a s e

M r . D a v i d H a w k e r M P

F e d e r a l M e m b e r f o r W a n n o n

16 April 2003

HAWKER WELCOMES EXTENSION OF CONSERVATION TAX INCENTIVES

Member for Wannon - David Hawker - has welcomed an extension of tax incentives for landowners interested in managing and conserving their land.

The incentives will be available to people entering voluntary conservation agreements with government agencies.

Mr. Hawker said the incentives provided financial benefits to landowners conserving the Australian environment by entering a conservation covenant.

“Covenants are voluntary agreements between landowners and authorised bodies which set out measures to manage and conserve native vegetation,” Mr. Hawker said.

“Previously, tax incentives were not available for covenants involving state or local government agencies.

“At present there are over 2000 covenants covering almost one million hectares of land already operating or under negotiation.

“The aim of the new tax incentive is to encourage a significantly larger number of people to enter the covenants.

“On top of these new measures, the government has also removed many of the impediments to people donating land for conservation.”

Mr. Hawker said landowners would now be able to claim an income tax deduction for any decrease in land value from entering a qualifying covenant.

He said this was provided the landowner did not get any payment for entering the covenant.

Further information on the Federal Government’s conservation initiatives is available on www.ea.gov.au.

Release Ends. Media Contact - Graham Soawyer - Ph 5572 1100

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