Industry Assistance

Revenue Review believes it is a "mistake" for tax regulations put into place to assist long term investments (such as forestry plantations) to be applied to short term crops such as tomatoes.

The Australian Taxation Office has enough work on its plate without having to arbitrate the legitimacy of different forms of industry and agriculture.

Where the national interest is best served in supporting certain export earning ventures, the determinations as to government or taxpayer assistance should be made by the relevant government departments such as primary industry and trade.

Upon profitability being achieved, provision should be made for the return of any monies provided.

Essentially, these systems would be managed outside of the ATO.

These principles should be applied to Managed Investment Schemes, Research and Development as well as any other taxation incentive.