Product Ruling

PR 2001/96W

Income tax: 'Whitman's Vengeance' Film Investment

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FOI status:

Notice of Withdrawal

Product Ruling PR 2001/96 is withdrawn with effect from today.

1. This Product Ruling relates to a film project that involves the production of an Australian feature film to be titled 'Whitman's Vengeance'. Under the terms of the arrangement investors were to make capital contributions towards the production of the film under a contract to be executed no later than 30 June 2002.

2. No capital contributions were received from investors in relation to the film project on or before 30 June 2002. Therefore the Product Ruling has no application to any investors and will be withdrawn.

3. A revised arrangement for the film 'Whitman's Vengeance' is outlined in Product Ruling PR 2003/35 which issued today.

Commissioner of Taxation
4 June 2003

This Ruling has been replaced by PR 2003/35.

References

ATO references:
NO 2002/011971

Related Rulings/Determinations:

PR 1999/95
TR 92/1
TR 92/20
TR 97/16
TR 98/22
TD 93/34
IT 2111
MT 2000/1
GSTD 2000/8

Subject References:
Australian films
film income
film industry
interest expenses
product Rulings
public Rulings
tax avoidance

Legislative References:
ITAA 1936 Div 10BA
ITAA 1936 26AG
ITAA 1936 82KL
ITAA 1936 124ZAA(6)
ITAA 1936 124ZAB
ITAA 1936 124ZAB(10)
ITAA 1936 124ZAC
ITAA 1936 124ZADA(1)
ITAA 1936 124ZADA(2)
ITAA 1936 124ZAFA
ITAA 1936 124ZAFA(1)(a)
ITAA 1936 124ZAFA(1)(b)(i)
ITAA 1936 124ZAFA(1)(c)(i)
ITAA 1936 124ZAFA(1)(c)(ii)
ITAA 1936 124ZAFA(1)(d)(iii)
ITAA 1936 124ZAFA(1)(d)(iv)
ITAA 1936 124ZAFA(2)
ITAA 1936 124ZAG
ITAA 1936 124ZAJ
ITAA 1936 124ZAJ(1)
ITAA 1936 124ZAM
ITAA 1936 124ZAM(1)
ITAA 1936 124ZAM(2)
ITAA 1936 124ZAM(3)
ITAA 1936 124ZAO(2)
ITAA 1936 124ZAO(3)
ITAA 1936 Part IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 204
ITAA 1997 8-1
ITAA 1997 17-5
ITAA 1997 Div 27
TAA 1953 8AAG
ANTS(GST)A 99 38-190(1)
Corporations Law 708(8)
Corporations Law 708(9)
Corporations Law 708(10)