Product Ruling PR 2006/32W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2006/32 is withdrawn with effect from today. 1. Product Ruling PR 2006/32 set out the Commissioner's opinion on the tax consequences for entities participating in the Australian Bight Abalone Project 2006 - Wholesale Offer ('the Project'). The offer to participate in the Project was a wholesale offer, as it was limited to entities who are wholesale clients as described in section 761G of the Corporations Act 2001 . 2. No entities were accepted under the wholesale offer as described in the Product Ruling on or before 15 June 2006. Therefore, Product Ruling PR 2006/32 has no application as it does not rule on the tax consequences for any entities. Commissioner of Taxation 6 September 2006

Related rulings: TD 93/34 TR 92/20 TR 97/11 TR 98/22 TR 2000/8 TR 2001/14
Legislative references: ITAA 1936 82KL ITAA 1936 Pt III Div 3 Subdiv H 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 82KZMG 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 40-70(1) ITAA 1997 40-75(1) ITAA 1997 40-105 ITAA 1997 40-440 ITAA 1997 40-525(2) ITAA 1997 Subdiv 61-J ITAA 1997 Div 70 ITAA 1997 70-15 ITAA 1997 70-35 ITAA 1997 Div 328 ITAA 1997 Subdiv 328-D ITAA 1997 328-180 ITAA 1997 328-225 ITAA 1997 328-225(1) ITAA 1997 328-225(2) ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G IT(TP)A 1997 Div 328 IT(TP)A 1997 328-120 IT(TP)A 1997 328-125 TAA 1953 Copyright Act 1968 Corporations Act 2001 Corporations Act 2001 761G Aquaculture Act 2001 (SA)
Case references: Commissioner of Taxation v. Lau (1984) 6 FCR 202 84 ATC 4929 (1984) 16 ATR 55
Subject references: carrying on a business commencement of business fee expenses interest expenses management fees non-commercial losses producing assessable income product rulings public rulings tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project taxation administration trading stock