Product Ruling PR 2005/86W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2005/86 is withdrawn with effect from today. 1. Product Ruling PR 2005/86 dealt with the tax consequences of investing in the Project by Growers entering into an Allotment Agreement and a Management Agreement between 1 June 2005 and 15 June 2005 to grow and cultivate citrus trees for harvesting and selling citrus. 2. The promoter has since advised the Tax Office that the Project did not proceed, and therefore, no interests were sold between 1 June 2005 and 15 June 2005. Therefore, PR 2005/86 has no application as it does not rule on the tax consequences for any entity. Commissioner of Taxation 26 July 2006

Related rulings: PR 1999/95 TR 92/1 TR 97/16 TR 92/20 TR 98/22 TR 97/11 TR 2000/8 TR 2000/18 TD 93/34
Legislative references: ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 Part III Div 6 ITAA 1936 82KL ITAA 1936 82KZL ITAA 1936 82KZM ITAA 1936 82KZMA ITAA 1936 82KZMB ITAA 1936 82KZMC ITAA 1936 82KZMD ITAA 1936 82KZME ITAA 1936 82KZMF ITAA 1936 Pt IVA ITAA 1936 177A ITAA 1936 177C ITAA 1936 177D ITAA 1936 177D(b) ITAA 1936 318 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 35-55 ITAA 1997 35-55(1)(b) ITAA 1997 Div 40 ITAA 1997 Subdiv 40-F ITAA 1997 40-515(1)(a) ITAA 1997 40-515(1)(b) ITAA 1997 40-520(1) ITAA 1997 40-520(2) ITAA 1997 40-525 ITAA 1997 40-525(2) ITAA 1997 40-530 item 2 ITAA 1997 40-540 ITAA 1997 40-545 ITAA 1997 Subdiv 61-J ITAA 1997 108-5 ITAA 1997 110-25 ITAA 1997 110-25(2) ITAA 1997 Div 328 ITAA 1997 328-105 ITAA 1997 Subdiv 328-D ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G TAA 1953 Pt IVAAA Copyright Act 1968 Corporations Act 2001
Case references: Commissioner of Taxation v. Lau (1984) 6 FCR 202 84 ATC 4929 (1984) 16 ATR 55
Subject references: advance deductions and expenses 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 taxation administration tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project