Product Ruling PR 2003/67W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2003/67 is withdrawn with effect from today. 1. Product Ruling PR 2003/67 sets out the Commissioner's opinion on the way in which certain tax laws apply to Growers who take part in the NTT Mahogany Project (the Project). This Ruling continues to apply to Growers who were accepted to participate in the Project on or before 30 June 2004 in relation to the deductibility of costs incurred for the year ended 30 June 2004. 2. PR 2003/67 was previously amended on 28 April 2004 to reflect a change in the arrangement in respect of the size of the woodlot and the calculation of the incentive fee. 3. As a result of further changes to the arrangement to extend the date for completion of the Plantation Establishment Services, this Ruling is now withdrawn. The tax consequences for Growers who participate in the NTT Mahogany project for the year ended 30 June 2005 and later years are now covered by PR 2004/105 which applies from today. Commissioner of Taxation 17 November 2004 This Ruling has been replaced by Product Ruling PR 2004/105.

Related rulings: TR 92/1 TR 92/20 TR 97/11 TR 97/16 TD 93/34 TR 98/22 PR 1999/95 TR 2000/8
Legislative references: ITAA 1936 Div 3H of Part III ITAA 1936 82KL ITAA 1936 82KZL ITAA 1936 82KZL(1) ITAA 1936 82KZME ITAA 1936 82KZME(1) ITAA 1936 82KZME(2) ITAA 1936 82KZME(3) ITAA 1936 82KZME(4) ITAA 1936 82KZME(7) ITAA 1936 82KZMF ITAA 1936 82KZMF(1) ITAA 1936 82KZMG ITAA 1936 82KZMG(1) ITAA 1936 82KZMG(2) ITAA 1936 82KZMG(3) ITAA 1936 82KZMG(4) ITAA 1936 82KZMG(5) ITAA 1936 Part IVA ITAA 1936 177A ITAA 1936 177C ITAA 1936 177D ITAA 1936 177D(b) ITAA 1997 6-5 ITAA 1997 8-1 ITAA 1997 17-5 ITAA 1997 Div 27 ITAA 1997 Div 35 ITAA 1997 35-10 ITAA 1997 35-10(2) ITAA 1997 35-10(3) ITAA 1997 35-10(4) ITAA 1997 35-30 ITAA 1997 35-35 ITAA 1997 35-40 ITAA 1997 35-45 ITAA 1997 35-55 ITAA 1997 35-55(1) ITAA 1997 35-55(1)(a) ITAA 1997 35-55(1)(b) ITAA 1997 Div 328 ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G ITAA 1997 328-105 ITAA 1997 328-105(1)(a) TAA 1953 Pt IVAAA Copyright Act 1968
Case references: Commissioner of Taxation v. Lau (1984) 6 FCR 202 84 ATC 4929 (1984) 16 ATR 55
Subject references: advance expenses & payments for certain forestry expenditure carrying on a business commencement of business fee expenses forestry agreement interest expenses management fees non-commercial losses producing assessable income product rulings public rulings seasonally dependent agronomic activity tax benefits under tax avoidance schemes tax shelters tax shelters project