A range of incentives are provided by different levels of Government and catchment management authorities (CMA) to landholders who enter into a conservation covenant with Trust for Nature.
Landholders who voluntarily enter into a conservation covenant with Trust for Nature are potentially eligible for concessional tax treatment. This may include concessional capital gains treatment and income tax deductions.
To qualify for an income tax deduction all of the following conditions must be met:
The covenant must be entered into on or after 1 July 2002.
The covenant must be entered into over land which you own – leased property is not eligible.
The covenant entered into must be perpetual.
You must not receive money, property or any other material benefit for entering into the covenant.
The covenant must be entered into with a deductible gift recipient (DGR).
The market value of the land must decrease as a result of entering into the covenant.
The change in the market value of the land must be more than $5000 due to the covenant. If the decrease in value of the land is less than $5000, you will only be eligible for a deduction if the land was acquired not more than 12 months before entering into the covenant and you meet all the above conditions.
For more information go to the Australian Tax Office (ATO) website to read about Conservation covenant concessions and read more in this document Gifts that keep on giving (pdf 270kb)
Land Management Incentives
Every catchment management authority has different land management guidelines in relation to conservation covenants. Please contact regional staff for more information.
For further information on the range of incentives available, please visit your CMAs website:
East Gippsland CMA
North Central CMA
North East CMA
Port Phillip CMA
West Gippsland CMA