Product Ruling PR 2006/126W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2006/126 is withdrawn with effect from 1 July 2007. 1. Product Ruling PR 2006/126 sets out the Commissioner's view on the deductibility of interest for entities participating in the Suncorp Protected Loan. 2. From 1 July 2007, the recently enacted Division 247 of the Income Tax Assessment Act 1997 applies a different methodology for calculating the cost of capital protection for entities in the Suncorp Protected Loan. PR 2006/126 therefore has no application to entities entering into the Suncorp Protected Loan on or after 1 July 2007. Commissioner of Taxation 4 July 2007

Related rulings: TR 95/33
Legislative references: ITAA 1936 51AAA ITAA 1936 82KL ITAA 1936 Pt III Div 3 Subdiv H 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 104-10 ITAA 1997 104-25 ITAA 1997 110-25 ITAA 1997 110-25(2) ITAA 1997 104-25(1)(c) ITAA 1997 104-25(3) ITAA 1997 110-55 ITAA 1997 110-55(2) ITAA 1997 Div 134 ITAA 1997 134-1(1) ITAA 1997 134-1(4) ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G TAA 1953 TAA 1953 Sch 1 357-75(1) Copyright Act 1968 Corporations Act 2001
Subject references: debt deductions financial products interest expenses prepaid expenses product rulings public rulings small business Investor tax avoidance taxation administration