Agribusiness Tax Effective
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Benefits of tax effective agribusiness:
Agribusiness Commission Rebates
Simply click on Agribusiness Products for the list of available projects and to download the Investment Brochure/PDS. It’s that easy!
Amending Legislation to Protect Forestry MIS Deductions
The Government has released draft amending legislation, designed to protect an initial investor’s tax deductions if a CGT event occurs within four years of investment due to circumstances outside the investor’s control.
ITC's Technical Service Manager Kim Cowie provides details of this proposed change, and examples of situations in which this protection could apply.
22 December 2009
Align Funds Management -
Timbercorp Almond Projects Update
Sam Baillieu (Shareholder Representative / Director) and Trevor Moyle (Independent Chairman) from Align Funds Management provide you with a current update as to their proposals for the Timbercorp Almond Projects.
23 June 2009
Dealer groups call for Great Southern enquiry
Dealer groups want the government to set up an enquiry into failed agribusiness giant Great Southern. A number of dealer groups have called on the government to step in to help investors caught up in the collapse of agribusiness firm Great Southern. Representatives from Australian Financial Services (AFS) and IOOF-owned group Consultum Financial Advisers each voiced concern for investors at Great Southern's first creditors meeting held yesterday in Melbourne.
28 May 2009
MIS forest managers growing wood for an
undersupplied domestic market
In the torrent of media commentary about the recent collapse of major agribusiness managed investment scheme companies, Timbercorp and Great Southern, many of the statements made by the most vocal MIS detractors have been factually wrong or at best misleading, according to the Australian Plantation Products and Paper Industry Council (A3P). A3P CEO, Richard Stanton, said “One of the most bizarre generalisations is the MIS forestry companies are purely motivated by tax minimisation and management fees and have no interest in the forestry products they are growing for their investors, or the target markets for those products."
27 May 2009
Wait For Conclusion - Minister Defends MIS
Federal Agriculture Minister Tony Burke defended the managed investment scheme (MIS) model at Hamilton this week as MIS company Great Southern Ltd. went into receivership.....
21 May 2009
Time for some MIS facts
Australian Agribusiness Group (AAG) has been researching and rating agricultural investments, including Managed Investment Schemes, since 2000 - longer than any other research business. AAG also operates a consulting practice and manages a substantial portfolio (over $350m) of agricultural assets Australia wide. AAG knows MIS, and we know Australian agriculture. We have no illusions about either.
19 May 2009
Plantation forestry offers a sound
investment and strong growth
“Despite the recent news concerning two of the players in the agricultural managed investment schemes (MIS) sector, MIS-driven plantation forestry remains a solid industry with the offer of strong and increasing timber prices. The sector is poised for continued expansion,” said Allan Hansard, CEO National Association of Forest Industries (NAFI).
18 May 2009
Great Southern Appoints Voluntary
It is with great regret we inform you that the Directors of Great Southern Limited and Great Southern Managers Australia Limited have appointed Martin Jones, Darren Weaver, Andrew Saker and James Stewart of Ferrier Hodgson as joint and several administrators of the companies and the majority of its subsidiaries.
18 May 2009
For further information you can also go to www.great-southern.com.au
Other Related Updates
Timbercorp Appoints Voluntary Administrators
Mr Mark Korda and Ms Leanne Chesser were today appointed voluntary administrators of Timbercorp Limited (ASX: TIM). Timbercorp is one of Australia’s largest agribusiness companies, managing approximately 120,000 hectares of large scale forestry and horticulture assets. Timbercorp has invested more than $2 billion in agribusiness projects on behalf of 18,500 investors since 1992.
Mr Korda said the company had been hurt by the combined impact of declining global asset values, tightening credit, the economic downturn and drought. Mr Korda said the administrators would implement a three point plan....
23 April 2009
Frequently Asked Questions – Grower Investors
Frequently Asked Questions – Shareholders
Other Related Updates
AACL (Macro Funds)
Forest Enterprises Australia Limited (FEA)
Rural Land Sales and Lease-back is Part of FEA's Prudent Land Bank Management
Rural land sales and lease-back is part of FEA's prudent land bank management. Some people may have seen the advertisement which appeared in The Australian Financial Review on Monday 20 April 2009. It seeks offers from investors interested in purchasing high-quality rural properties in Tasmania, northern New South Wales and South East Queensland.
Sale and lease-back of FEA plantation forestry land is an ongoing part of our business strategy and one that we have followed for a number of years. Please be advised that the current advertising is NOT a 'fire sale'.
22 Apr 2009
Timbercorp Newsletter April 2009
08 Apr 2009
2009 Export Price secured for Australian plantation woodchip
Three of Australia’s leading forestry companies, ITC Limited (ITC), Timbercorp Limited (ASX:TIM) and Great Southern Limited (ASX:GTP), today announced the conclusion of negotiations for the 2009 benchmark price for Australian plantation grown Tasmanian bluegum woodchip for export to Japan. Not withstanding the current global economic conditions, a price of A$207.40 per bone dry metric tonne (BDMT), free on board (FOB), has been maintained for plantation grown Tasmanian bluegum exported from Australia up to July 1 2009, representing a nil increase on 2008 pricing.
27 Mar 2009
Agricultural sector better placed than some
"While the agricultural industry will not be immune from the impact of a global recession this year, Australian farmers may be better placed than some of their international counterparts to weather the storm.
Michael Whitehead, vice president of food and agribusiness research with Rabobank’s New York arm, said possible negative pressure on agriculture could include a drop in consumer demand, however this may be offset by ongoing global population growth. " Money Management
20 Mar 2009
Almond Price Update March 2009
"Almondco advised that Nonpareil prices moved down slightly due to California’s poor shipping figures for January (down 5%). However, February shipments were a record (up 35%) which has now placed Californian shipments slightly ahead of last season (up over 3%). Almondco are expecting the international price to remain stable with possible firming on some varieties & larger sizes." ailfunds.com.au
17 Mar 2009
Smaller players to take bigger role in MIS sector
"Smaller-scale agribusiness players are set to take the limelight from their more established peers in 2009, thanks to a forecast decline in demand for traditional pulpwood products and the exit of major players from the managed investment scheme sector." thewest.com.au/business
03 Mar 2009
Timbercorp will stand out of the MIS market in 2009
Turning to MIS, shareholders will be aware that in February 2007 the Australian Taxation Office revised its interpretation of the laws relating to non-forestry managed investment schemes. The MIS companies challenged the decision through a test case that was heard by the full bench of the Federal Court of Australia. On December 19 the Court handed down a unanimous decision in favour of industry.
The ATO has chosen not to appeal against the decision and they now accept the deductibility of project costs for non forestry managed investment schemes.
Timbercorp welcomes this announcement as it is consistent with their long held position and the generally held interpretation of the law that has applied for decades.
Despite this decision, Timbercorp will stand out of the MIS market in 2009 as previously announced. Timbercorp will consider MIS in future years as part of the strategic review process.
27 Feb 2009
30 Second Read from Timbercorp
Fire and extreme heat in south east Australia PLUS Water Update.
Timbercorp’s horticultural and forestry projects have not been affected by the devastating bushfires that have devastated human lives and property last weekend.
Horticultural properties have experienced unprecedented hot conditions over a sustained period of time. Managers have used irrigation to minimise heat stress in plants and crops. At this stage, no damage has been detected, however, we will continue to monitor for adverse affects from the heat.
17 Feb 2009
FEA Provides a Hand for Fire Relief
Forest Enterprises Australia Limited (FEA) would like to extend their deepest sympathy to the many people affected by the devastating and tragic Victorian bushfires....
The full Federal Court of Australia rules that contributions to non-forestry MIS can be treated as tax deductible.
With the Federal Court recently ruling on the test case, uncertainty surrounding the tax treatment of horticultural or non-forestry registered managed investment schemes (MIS) has been resolved. This is a welcome outcome for both the industry and investors alike.
The ATO has subsequently confirmed this decision stating in a media release that investments in MIS arrangements which are broadly similar to the test case are deductible. The ATO is now working to finalise product rulings for 2009 projects.
AAG: Agribusiness MIS Industry Report Of Funds Raised
The 2007/08 financial year was once again a year of uncertainty for the MIS industry, particularly the non-timber sector. However, the industry as a whole performed very well in terms of capital raised.
Timbercorp's Water and 2008 Project Update Overview
Since the start of the irrigation season, Timbercorp has been implementing a comprehensive management strategy to deal with reduced water allocations.
This included: carrying over water from the previous year; maximising the advantages of the company’s $150 million state-of-the-art irrigation system; purchasing additional temporary water; and implementing a range of water saving measures.
Timbercorp’s water management
The majority of Timbercorp’s projects are not located in regions that have been affected by the reduced rainfall currently experienced in the Murray Darling Basin.
Timbercorp’s 96,000 hectares of eucalypts in the Green Triangle region of Victoria and South Australia and in southern Western Australia have experienced above average rainfall this year. Timbercorp’s mango and avocado orchards at Cairns, Mataranka, Bundaberg and Busselton all have access to sufficient water.
Great Southern’s water management
As a major participant in the Australian agricultural sector, Great Southern is committed to monitoring the threat of climate change and drought conditions and managing the changing environment in relation to our operations.
Overall, we are currently well placed in relation to this issue, with access to adequate high security water, rainfall catchment on farm, private dams, regulated ground water and river supply, and the ability to purchase temporary transfer water as required. Importantly, growers will not bear the costs for any additional water Great Southern has been required to purchase for its existing investments.
Water: Almond Investors Limited’s Current Planning
Graham Johns, AIL’s Orchard Manager, is one of Australia’s most experienced and respected Almond orchardists and over his 26 years of experience has developed a sound understanding of how to manage almond trees under a broad range of growing conditions.
For this potential dry period he has available to him some of the most modern and sophisticated irrigation and fertilising technology in Australia, which he is using to maximise outcomes, even in a reduced water environment. This allows him to carry out a range of actions, in many ways similar to what we do in our home gardens in times of water restrictions, on the large scale of a commercial orchard. His aim is to maintain the health of the almond trees during the current dry period and obtain balanced growth and crop yields in proportion to available irrigation water. This will enable the trees to always be in the best possible condition to quickly return to optimum levels of orchard performance when normal rainfall patterns resume.
Great Southern update: New secondary market for forestry MIS
In a recent announcement by the Government, investors in forestry MIS may now be able to trade their investments. This comes as great news for investors in Great Southern’s Plantation and High Value Timber Projects.
What the announcement means:
Further information on the secondary market can be found in this flier Investors win with the announcement of a secondary market for forestry MIS and the article Forests to escape rural schemes axe. Please keep in mind that as at the date of this communication (20 June 2007) the secondary market has not yet been established, the exact workings on how the market will operate are still being determined and limited information has been released.
"We are fast approaching the close date for many of the non-forestry agribusiness funds, many of which are reliant on seasonal rainfall, whether directly or to fill irrigation catchments. As such, we thought it appropriate to provide an update of seasonal conditions across Australia, including a map of rainfall totals across the country in May.
Certainly Eastern Australia is experiencing much improved seasonal conditions when compared to last year, which has wet catchments and provided good potential for much stronger inflows in the all important winter and spring period. It should also be noted that the Darling River has started to flow again, bringing much needed relief to orchardists around Bourke in northern NSW. Anyone who had the opportunity to view the footage of the water finding its way along the dry river bed would have felt their sense of relief.
Let us hope that the talk of a La Nina weather event comes to fruition."
Source - Adviser Edge
A river runs through it - Article from The Daily Telegraph
BEER'S been the only thing flowing in Tilpa for 20 years _ until now. The rapids have finally surged through Colin Middleton's property in the far west.
Three weeks ago the Darling River which passes through grazier Mr Middleton's property at Tilpa in the state's far west was nothing but a dry, cracked riverbed. But on Friday Mr Middleton couldn't believe his eyes when water rapids surged through.
He was so elated he rushed down to the river with his son-in-law Matthew Elliott to capture something he wasn't sure he'd see again. "I thought it was a mirage. I had to drink it to see if it was real,'' Mr Middleton said.
"It was bloody magnificent, it's the first time in 20 years I have seen fresh flowing drinkable water. It's been so desperate for the past six years.''
06 June 2007
Federal Government listens to Industry - Secondary Market to be introduced
The latest Federal Government Budget included a welcome announcement regarding the introduction of a secondary market for forestry managed investment schemes (forestry MIS).
From 1 July 2007 investors in forestry MIS will be able to trade their interests once they have been held by the initial investor for a period of at least four years. The four year restriction will apply only to the initial investors in a scheme and will be applicable to interests in pre-existing schemes, meaning that growers who invested in a forestry MIS project prior to 1 July 2003 will be able to trade their interests from 1 July 2007.
08 May 2007
Extension welcomed for agribusiness managed investment schemes
The Australian Tax Office (ATO) has announced it will defer the implementation of its reconsidered view of the tax treatment relating to agricultural managed investment schemes until 1 July 2008.