Nothe ATO are questioning whether investors in the non forestry...

No
the ATO are questioning whether investors in the non forestry projects are actually running a business
if they arent running a business they cant claim 100% input costs as a tax deduction
the first one of these was in 1995ish with great southern and they have constantly been under question since
it is obviosu the ATO arent keen on all the tax deductions available to the projects
without the tax deduction the investments obviously dont stand up as if they did investors would still put money in for long term gains and the market wouldnt be so spooked
lesson in it for me is the underlying investments are crap so look at other companies