Document ID: chunk:federal_register_of_legislation:C2007A00079:clause:8_15
Version: federal_register_of_legislation:C2007A00079
Segment Type: clause
Provision Reference: sch 8 cl 15
Character Range: 70168–70908

15  After section 15‑45
Insert:

15‑46  Amounts paid under forestry managed investment schemes

 (1) Your assessable income includes an amount you receive under a *forestry managed investment scheme if:
 (a) you are the *forestry manager of the scheme, or an *associate of the forestry manager; and
 (b) the entity that paid the amount can deduct or has deducted the amount under section 394‑10 in relation to the scheme (disregarding subsection 394‑10(5)).
The amount is included for the income year for which the entity that paid the amount can or has claimed a deduction for it (disregarding subsection 394‑10(5)).

 (2) No part of an amount included under subsection (1) is included in your assessable income for a later income year.