Product Ruling

PR 2006/81W

Income tax: Goulburn Valley Orchards 2000 Project (6 December 2000 - 5 June 2001)

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This Ruling provides you with the following level of protection: This publication (excluding appendices) is a public ruling for the purposes of the Taxation Administration Act 1953. A public ruling is an expression of the Commissioner's opinion about the way in which a taxation provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes. If you rely on this ruling, we must apply the law to you in the way set out in the ruling (or in a way that is more favourable for you if we are satisfied that the ruling is incorrect and disadvantages you, and we are not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.

Withdrawal

1. This Product Ruling is withdrawn and ceases to have effect after 30 June 2006. Even following its withdrawal, this Ruling continues to apply, in respect of the relevant provision(s) ruled upon, to all entities within the specified class who on or after 6 December 2000 and before 5 June 2001, entered into the specified scheme that is set out in paragraphs 15 to 32 of Product Ruling PR 2000/115. This is subject to there being no material difference in the scheme or in the entities' involvement in the scheme.

Commissioner of Taxation
10 May 2006

Not previously issued as a draft

References

ATO references:
NO 2005/5919

Related Rulings/Determinations:

PR 2000/115
TR 2001/14

Subject References:
non-commercial business losses
orchard industry

Legislative References:
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-55
ITAA 1997 35-55(1)(a)
TAA 1953
TAA 1953 Sch 1 357-75(1)
Copyright Act 1968