Australian Government Seeks Views On Non-Forestry Managed Investment Schemes

by Mary Swire, for LawAndTax-News.com, Hong Kong

06 August 2008

Australia's Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen on Friday released an issues paper on non-forestry managed investment schemes.

The issues paper seeks submissions regarding non-forestry MIS, which will be considered by the review of non-forestry MIS.

“A comprehensive review of the costs and benefits of non-forestry managed investment schemes is a part of the Government’s plan for primary industries,” Mr Bowen explained.

"The Rudd Government recognises the important contribution that agriculture makes to the Australian economy,” Bowen added, going on to explain that:

“This review will take an evidence-based approach to whether non-forestry managed investment schemes are an effective tool for attracting investment to rural and regional Australia.”

Non-forestry managed investment schemes (MIS) are a type of collective investment that have grown rapidly in recent years. There has been significant debate over the merits of this investment structure.

The review will examine the economic, social and environmental impacts of non-forestry MIS.

The Treasury is seeking submissions from interested parties.

In particular, the Treasury has stated that it would appreciate submissions from the managed investment scheme industry, farmers, local councils and other parties that have experience and knowledge of non-forestry MIS.

The closing date for submissions is 12th September 2008.

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