Product Ruling

PR 2007/77W

Income tax: NTT Mahogany 2006-2008 (2008 Growers)

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Notice of Withdrawal

Product Ruling PR 2007/77 is withdrawn with effect from today.

1. PR 2007/77 set out the Commissioner's opinion on the tax consequences of Growers accepted into the NTT Mahogany 2006-2008 Project (the Project) for the purpose of carrying on the business of afforestation.

2. No applications were accepted and the Project did not proceed. Therefore, PR 2007/77 has no application, as it does not rule on the tax consequences for any entity.

Commissioner of Taxation
3 September 2008

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

TD 2003/12
TR 97/7
TR 97/11
TR 98/22
TR 2000/8
TR 2007/6
PR 2006/34
PR 2006/35
PR 2006/100
PR 2006/101
PR 2006/101A
PR 2007/43

Subject References:
carrying on a business
commencement of business
management fee expenses
non-commercial losses
primary production
primary production expenses
producing assessable income
product rulings
public rulings
schemes and shams
tax avoidance
tax benefits under tax avoidance schemes
tax shelters taxation administration

Legislative References:
ITAA 1936 82KL
ITAA 1936 Pt III Div 3 Subdiv H
ITAA 1936 82KZL
ITAA 1936 82KZL(1)
ITAA 1936 82KZM
ITAA 1936 82KZMA
ITAA 1936 82KZMB
ITAA 1936 82KZMC
ITAA 1936 82KZMD
ITAA 1936 82KZME
ITAA 1936 82KZMF
ITAA 1936 82KZMG
ITAA 1936 82KZMG(1)
ITAA 1936 82KZMG(2)
ITAA 1936 82KZMG(3)
ITAA 1936 82KZMG(4)
ITAA 1936 82KZMGA
ITAA 1936 82KZMGA(1)
ITAA 1936 82KZMGA(2)
ITAA 1936 82KZMGB
ITAA 1936 82KZMGB(1)(d)
ITAA 1936 82KZMGB(2)
ITAA 1936 82KZMGB(3)
ITAA 1936 170
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
ITAA 1997 6-5
ITAA 1997 6-10
ITAA 1997 8-1
ITAA 1997 10-5
ITAA 1997 17-5
ITAA 1997 25-25
ITAA 1997 25-25(1)
ITAA 1997 25-25(4)
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-10(2)
ITAA 1997 35-55
ITAA 1997 35-55(1)(b)
ITAA 1997 Pt 3-1
ITAA 1997 118-20
ITAA 1997 328-110
TAA 1953
TAA 1953 Sch 1 357-75(1)
SISA 1993
Copyright Act 1968
Corporations Act 2001

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