Tax deductible carbon sink forests?

Source: Australian Parliament Research Service
"Allowing tax deductions for certain expenses incurred in planting a carbon sink forest has become a controversial topic. This paper looks at the background to the tax deduction, explains why carbon sink forest are important in controlling emissions, outlines recent objections to this measure during the Senate debates over the period 24 to 26 June 2008 and provides additional background material on these matters. The discussion only concentrates on the tax deduction now available for the planting of carbon sink forests."