tim, fea etc, 12 month deduct to stay

The 12 month rule for MIS forestry is to be extended until 2008.

Here is the relevant section from the budget papers.

Sustaining forestry
The Australian Government will extend the 12 month prepayment rule for forestry managed investments until 30 June 2008. This extension will create certainty for the industry and investors in forest‑managed investment schemes while a review is conducted and options to assist the industry over the longer term are examined. The review will include examination of tax impediments to long‑term investment in plantations.

The Prime Minister announced in June 2004 that the Australian Government would be prepared to consider contributing up to $5 million to assist with project costs associated with the development of an environmental best practice pulp mill in Tasmania by Gunns Limited following the completion of a feasibility study.

During the 2004 election campaign the Coalition Government committed to significant new forest reserves and investment in the Tasmanian forest industry. Measures to implement those commitments are expected to be announced by the Australian and Tasmanian governments shortly.