Excerpt from the senate enquiry reported in the Kyogle newspaper...

Excerpt from the senate enquiry reported in the Kyogle newspaper today,good article better than the pulp rubbish like Pascoe,who is 50 weeks back from the main event
QUOTE


The committee wants to get to the bottom of how and why investors were encouraged into these schemes, and whether they were built on a sustainable business structure,” Mr Ripoll said.
MIS offer investors massive tax breaks for putting their money into agribusiness enterprises, with around 80% of funds going into timber plantations.
“A lot of the investors I have spoken to say they feel good about their money being used to help communities and the environment by planting trees, but that’s not what’s happening,” Mr Ripoll said.
Kyogle councillor and beef producer Lindsay Passfield said he had seen properties sold in early June and companies going hell for leather to get trees in the ground before June 30 so they were eligible for the tax breaks.
“They were clearing and poisoning... survival (of the trees) just didn’t come into it. They’d just grab whatever species they could get their hands on, just to get them in the ground,” Cr Passfield said.
It was a story echoed by several other farmers at the meeting.