AGRICULTURE: Tax breaks for wealthy hurting agriculture*

Federal Government tax concessions for the wealthy are spawning huge corporate farms at the expense of family farms, writes Pat Byrne.Managed investment schemes (MIS) are distorting rural investment, agricultural markets and water allocations. MIS involve wealthy people seeking to minimise their tax by investing in managed rural investment schemes that are creating very large corporate farms.About $3.6 billion has been invested in MIS since the 2001-02, almost $1.2 billion this year. They have a…

Sorry, you don’t have access to this content. Please log in or email [email protected] for help.