• Legal database
Legal database

Product Ruling

PR 2003/49W

Income tax: deductibility of interest incurred on borrowings under the Leveraged Equities Share Protection Plan

  • Please note that the PDF version is the authorised version of this withdrawal notice.
    This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

may be released

Preamble
The number, subject heading, and the What this Product Ruling is about (including Tax law(s), Class of persons and Qualifications sections), Date of effect, Withdrawal, Arrangement and Ruling parts of this document are a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953. Product Ruling PR 1999/95 explains Product Rulings and Taxation Rulings TR 92/1 and TR 97/16 together explain when a Ruling is a public ruling and how it is binding on the Commissioner.

Withdrawal

1. This Product Ruling is withdrawn and ceases to have effect after 30 June 2007. The Ruling continues to apply, in respect of the tax laws ruled upon, to all persons within the specified class who enter into the specified arrangement during the term of the Ruling. Thus, the Ruling continues to apply to those persons, even following its withdrawal, who entered into the specified arrangement prior to withdrawal of the Ruling. This is subject to there being no material difference in the arrangement or in the persons' involvement in the arrangement.

Commissioner of Taxation
9 July 2003

This Ruling has been previously released as PR 2002/89

References

ATO references:
NO 2003/000428

ISSN: 1441 1172

Related Rulings/Determinations:

PR 2002/89W
PR 1999/95
TR 92/1
TR 92/20
TR 97/16
TD 93/34
TR 95/33

Subject References:
financial products
interest expenses
prepaid expenses
product rulings
public rulings
small business investor
taxation administration
tax avoidance

Legislative References:
ITAA 1936 51AAA
ITAA 1936 Part III, Div 3, Subdiv H
ITAA 1936 82KL
ITAA 1936 82KZL(1)
ITAA 1936 82KZL(2)(a)
ITAA 1936 82KZM
ITAA 1936 82KZMA
ITAA 1936 82KZMD
ITAA 1936 82KZME
ITAA 1936 82KZME(4)
ITAA 1936 82KZME(5)
ITAA 1936 82KZME(5)(b)(iii)
ITAA 1936 82KZMF
ITAA 1936 Part IVA
ITAA 1997 8-1
ITAA 1997 110-25
ITAA 1997 110-25(2)
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
TAA 1953 Pt IVAAA
Copyright Act 1968

PR 2003/49W history
  Date: Version: Change:
  9 July 2003 Original ruling  
  17 December 2003 Consolidated ruling Addendum
You are here 1 July 2007 Withdrawn  

Back to top