The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen MP, today 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 said.
This honours another election commitment by the Rudd Labor Government.
"The Rudd Government recognises the important contribution that agriculture makes to the Australian economy,” Mr Bowen said.
“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.
Treasury is seeking submissions from interested parties. In particular, Treasury 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 issues paper is available from the Treasury website (www.treasury.gov.au).
The closing date for submissions is 12 September 2008.
1 August 2008