Product Ruling

PR 2006/115W

Income tax: Future Films Australia: 'Stranger'

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Notice of Withdrawal

Product Ruling PR 2006/115 is withdrawn with effect from today.

1. Product Ruling PR 2006/115 sets out the Commissioner's opinion on the tax consequences for persons participating in the film project titled 'Future Films Australia: Stranger'.

2. The Tax Office has been advised that the arrangement is to be implemented in a materially different manner to the arrangement that was disclosed in the application for the Product Ruling in that Future Films Australia Pty Limited and associated entities are no longer involved in the project.

3. As a result, there is no class of persons to whom the Ruling applies.

4. Participants in the project cannot rely on PR 2006/115.

Commissioner of Taxation
28 March 2007

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

IT 2111
TR 98/22

Subject References:
Australian films
film income
film industry
interest expenses
product rulings
public rulings
schemes and shams
tax administration
tax avoidance

Legislative References:
ITAA 1936 26AG
ITAA 1936 26AG(9)
ITAA 1936 79D
ITAA 1936 82KL
ITAA 1936 Pt III Div 5
ITAA 1936 Pt III Div 10B
ITAA 1936 Pt III Div 10BA
ITAA 1936 124ZAA(6)
ITAA 1936 124ZAB
ITAA 1936 124ZAB(10)
ITAA 1936 124ZAC
ITAA 1936 124ZADA
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
ITAA 1936 124ZAO(2)
ITAA 1936 124ZAO(3)
ITAA 1936 160AFD(9)
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1997 8-1
ITAA 1997 25-25
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-5(2)
ITAA 1997 995-1
TAA 1953
TAA 1953 Sch 1 280-100
TAA 1953 Sch 1 280-160
TAA 1953 Sch 1 357-75(1)
Copyright Act 1968
Copyright Act 1968 86
Copyright Act 1968 98(3)
Corporations Act 2001 761G
Australian Film Commission Act 1975
Broadcasting Services (Australian Content) Standard 1999