Commonwealth Consolidated Acts Commonwealth Consolidated ActsYou can deduct an amount if you enter into a conservation covenant over land that you own and you satisfy certain conditions.
The amount you can deduct is the difference between the market value of the land just before and after you enter into the covenant.
Table of sections
Operative provisions
31 - 5 Deduction for entering into conservation covenant
31 - 10 Requirements for fund, authority or institution
31 - 15 Valuations by the Commissioner