Product Ruling

PR 2005/22W

Income tax: Rewards Group Sandalwood Project 5 - 2006 Growers

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FOI status:

Notice of Withdrawal

Product Ruling PR 2005/22 is withdrawn with effect from today.

1. This Ruling sets out the Commissioner's opinion on the way in which certain tax laws apply to persons who take part in the Rewards Group Sandalwood Project 5 - 2006 Growers ('the Project'). This Ruling applied to Growers who were accepted to participate in the Project on or before 30 June 2006. This Ruling continues to apply to Growers who were accepted to participate in the Project on or before 24 May 2006 in relation to the deductibility of costs incurred for the year ended 30 June 2006.

2. As a result of changes to the finance being offered to Growers, this Ruling is now withdrawn. Product Ruling PR 2006/94 replaces PR 2005/22 and applies from 24 May 2006.

Commissioner of Taxation
24 May 2006

This Ruling has been replaced by Product Ruling PR 2006/94.

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

PR 1999/95
PR 2005/21
TD 93/34
TD 2003/12
TR 92/1
TR 97/16
TR 92/20
TR 97/11
TR 98/22
TR 2000/8
TR 2001/14

Subject References:
advance deductions and expenses for certain forestry expenditure
borrowing expenses
carrying on a business
commencement of business
fee expenses
forestry agreement
interest expenses
management fees
non commercial losses
producing assessable income
product rulings
public rulings
seasonally dependent agronomic activity
taxation administration
tax avoidance
tax benefits under tax avoidance schemes
tax shelters
tax shelters project

Legislative References:
ITAA 1936 Pt III Div 3 Subdiv H
ITAA 1936 82KL
ITAA 1936 82KZL
ITAA 1936 82KZL(1)
ITAA 1936 82KZME
ITAA 1936 82KZME(1)
ITAA 1936 82KZME(2)
ITAA 1936 82KZME(3)
ITAA 1936 82KZME(4)
ITAA 1936 82KZME(7)
ITAA 1936 82KZMF
ITAA 1936 82KZMF(1)
ITAA 1936 82KZMG
ITAA 1936 82KZMG(1)
ITAA 1936 82KZMG(2)
ITAA 1936 82KZMG(3)
ITAA 1936 82KZMG(4)
ITAA 1936 82KZMG(5)
ITAA 1936 Div 6
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
ITAA 1997 6-5
ITAA 1997 8-1
ITAA 1997 17-5
ITAA 1997 25-25
ITAA 1997 25-25(1)
ITAA 1997 25-25(3)
ITAA 1997 25-25(4)
ITAA 1997 25-25(5)
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-10(2)
ITAA 1997 35-10(3)
ITAA 1997 35-10(4)
ITAA 1997 35-30
ITAA 1997 35-35
ITAA 1997 35-40
ITAA 1997 35-45
ITAA 1997 35-55
ITAA 1997 35-55(1)
ITAA 1997 35-55(1)(b)
ITAA 1997 108-5
ITAA 1997 110-25(2)
ITAA 1997 Div 328
ITAA 1997 328-105
ITAA 1997 328-105(1)(a)
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
TAA 1953 Pt IVAAA
Copyright Act 1968
Corporations Act 2001

Case References:
Commissioner of Taxation v Lau
(1984) 6 FCR 202
84 ATC 4929
(1984) 16 ATR 55