Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

This is the information with which I have been provided. The tax law is not the appropriate mechanism for ensuring a carbon sink forest is maintained until mature and thereafter. The tax law is a mechanism for raising revenue, not a mechanism to regulate the growing of trees. The tax law does not have penalties for the destruction or removal of other assets where the taxpayer has previously claimed a deduction. The treatment of the destruction of a carbon sink forest should be dealt with under other environmental frameworks. The legislation does not allow a deduction if the intention of the taxpayer is to fell the trees.