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09 Jul 08 Carbon sink forests factsheet

The ATO has published a factsheet advising that, from 1 July 2007, taxpayers will be able to claim a deduction for expenditure that they incur for the establishment of trees in a carbon sink forest under Subdivision 40-J of ITAA 1997. However, Members should note that certain members of the Senate seek to have these laws either amended or reversed - see 2008 TAXVINE No 26 (11) (4 July 2008).

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