Product Ruling PR 2008/14W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2008/14 is withdrawn with effect from today. 1. Product Ruling PR 2008/14 sets out the Commissioner's opinion on the tax consequences of Growers accepted into the Capricorn Timber Indian Sandalwood Project (the Project) from 20 February 2008 to 30 June 2008 inclusive. Growers were to participate in the business of cultivation, harvest and sale of Indian Sandalwood trees. 2. The Project did not commence as it did not achieve the minimum subscription of 275 Woodlots as required under the terms of the Product Disclosure Statement. Therefore, PR 2008/14 has no application as it does not rule on the tax consequences for any entity. Commissioner of Taxation 30 July 2008

Related rulings: TD 2003/12 TR 97/7 TR 97/11 TR 98/22 TR 2000/8 TR 2007/6
Legislative references: ITAA 1936 82KL ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 82KZL ITAA 1936 82KZL(1) ITAA 1936 82KZLA 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(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 6-10 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 40-880 ITAA 1997 Pt 3-1 ITAA 1997 118-20 ITAA 1997 328-110 ITAA 1997 995-1 Copyright Act 1968 Corporations Act 2001 SISA 1993 TAA 1953 TAA 1953 Sch 1 357-75(1)
Case references: Commissioner of Taxation v. Lau (1984) 6 FCR 202 84 ATC 4929 (1984) 16 ATR 55
Subject references: advance deductions and expenses carrying on a business commencement of business fee expenses for certain forestry expenditure forestry agreement interest expenses management fees non-commercial losses producing assessable income product rulings public rulings schemes seasonally dependent agronomic activity tax avoidance tax benefits under tax avoidance tax shelters tax shelters project taxation administration