Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)

Schedule 8   Forestry managed investment schemes

Part 2   Other amendments

Income Tax Assessment Act 1936

4   Subsection 82KH(1) (after paragraph (p) of the definition of relevant expenditure )

Insert:

(pa) a loss or outgoing incurred by the taxpayer in respect of the establishment and tending of trees for felling on behalf of the taxpayer to the extent to which a deduction would, apart from section 82KL, be allowable to the taxpayer under section 394-10 of the Income Tax Assessment Act 1997 in respect of the loss or outgoing;