AGRIBUSINESSES POSE RISKS
Investors in Great Southern and Timbercorp now appear to have lost millions of dollars.
But readers of Nick Renton's books have for many years been warned about the risks of putting money into agribusinesses.
In at least four of his books published since 1990 Nick Renton included a cautionary statement on the following lines:
"TREES, NUTS, OYSTERS, AND THE LIKE
"Special schemes offering tax concessions to small investors by letting them participate in trusts or syndicates involved with film production or with exotic products such as nuts, oyster farming or forestry are widely advertised towards the end of each financial year.
"It is usually undesirable for investors to rush into such ventures without getting independent expert advice. A tax loss might turn out to be a real loss as well. There may also be some uncertainty as to whether the investors will actually become eligible for all of the promised tax benefits.
"The value of any tax deduction needs to be weighed against the following:
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