Product Ruling

PR 2001/163A - Addendum

Income tax: deductibility of interest incurred on borrowings under the UBS Warburg Protected Equity Product

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FOI status:

may be released

Addendum

This Addendum amends Product Ruling PR 2001/163 to reflect the transfer of the rights and obligations of UBS Warburg Australia Ltd, as issuer of the UBS Warburg Protected Equity Product, to UBS AG, Australia Branch.

This Addendum applies on and from 1 January 2004, the date the transfer of the rights and obligations occurs.

PR 2001/163 is amended as follows:

1. Paragraph 1

In the second sentence omit:

'UBS Warburg Australia Ltd ('UBS Warburg')'

and substitute:

'UBS AG, Australia Branch ('UBS')'.

2. Paragraph 1

In the second sentence omit:

'UBS Warburg Protected Equity Product'

and substitute:

'UBS Protected Equity Product'.

3. In the following paragraphs, subparagraphs and sub-subparagraphs:

Omit each reference to:

'UBS Warburg'

and substitute:

'UBS'.

•

Title;

•

Paragraph 10, first dot point;

•

Paragraph 10, second dot point;

•

Paragraph 10, third dot point;

•

Paragraph 10, fourth dot point;

•

Paragraph 10, second sentence;

•

Subparagraph 11(a), first sentence;

•

Subparagraph 11(a), third sentence;

•

Subparagraph 11(e);

•

Subparagraph 11(f), first sentence;

•

Subparagraph 11(f), second sentence;

•

Subparagraph 11(f), second dot point;

•

Subparagraph 11(f), third sentence;

•

Subparagraph 11(g), third sentence;

•

Sub - subparagraph 11(i)(ii);

•

Sub - subparagraph 11(i)(iv);

•

Subparagraph 11(j), second sentence;

•

Subparagraph 11(k), third sentence;

•

Subparagraph 11(k), fourth sentence;

•

Subparagraph 11(l), first sentence;

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Paragraph 12;

•

Subparagraph 14(b);

•

Subparagraph 15(g);

•

Paragraph 18; and

•

Paragraph 20, second sentence.

Commissioner of Taxation
17 December 2003

References

ATO references:
NO 2003/11684