Business
The forestry vision that turned into a nightmare – Sydney Morning Herald
A 30-year vision to plant native timber forests all over Australia has created a catch-22 situation for one ASX-listed company.
In the late 1990s, the Howard government launched that plantation visions policy and started tax incentives for managed investment schemes (MIS). Billions of dollars poured into timberlands, as investors received huge upfront tax deductions and the promise of profits when trees were harvested ten years later. The policy turned out to be a disaster and was wound back in 2006.
But the seeds of trouble had already been sown on the western end of Kangaroo Island, where a company called Great Southern…
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