Product Ruling PR 2007/59W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2007/59 is withdrawn with effect from today. 1. Product Ruling PR 2007/59 applies to investors who are accepted to participate in the scheme specified in this Ruling on or after 1 July 2007 and who execute the relevant Project Agreements on or before 30 June 2010 to use a loan to purchase shares from companies listed on the Australian Securities Exchange specified by Leverage Equities Limited. 2. PR 2007/59 is withdrawn due to changes made to the features of the product which alters the Scheme that is described in the Ruling. PR 2007/59 will continue to apply to those investors who entered into the scheme before its withdrawal. Commissioner of Taxation 19 December 2007

Related rulings: TR 95/33
Legislative references: ITAA 1936 51AAA ITAA 1936 Pt 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 Pt IVA ITAA 1997 8-1 ITAA 1997 104-25(1)(c) ITAA 1997 104-25(3) ITAA 1997 110-25(2) ITAA 1997 110-55(2) ITAA 1997 134-1(1) ITAA 1997 134-1(4) ITAA 1997 Div 247 ITAA 1997 247-20 ITAA 1997 247-20(3) ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G TAA 1953 TAA 1953 Sch 1 357-75(1) Copyright Act 1968 SISA 1993
Subject references: debt deductions capital protected borrowing financial products interest expenses prepaid expenses product rulings public rulings small business investor taxation administration tax avoidance