Product Ruling PR 2004/24W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2004/24 is withdrawn with effect from today. 1. Product Ruling PR 2004/24 set out the Commissioner's opinion on the tax consequences for persons participating in the Monini Olive Groves Project ('the Project') by entering into a Licence and Management Deed for the purpose of carrying on a commercial olive growing project. 2. The minimum subscription was not met and the Project did not proceed. Product Ruling PR 2004/24 has no application as it does not rule on the tax consequences for any taxpayer. Commissioner of Taxation 1 December 2004

Related rulings: TR 92/1 TR 92/20 TD 93/34 TR 97/11 TR 97/16 TR 98/22 PR 1999/27 PR 1999/95 TR 2000/8 IT 360
Legislative references: TAA 1953 Pt IVAAA ITAA 1936 82KH(1) ITAA 1936 82KH(1F)(b) ITAA 1936 82KL ITAA 1936 82KL(1) ITAA 1936 82KZL ITAA 1936 82KZL(1) ITAA 1936 82KZME ITAA 1936 82KZME(1) ITAA 1936 82KZME(2) ITAA 1936 82KZME(3) ITAA 1936 82KZME(4) ITAA 1936 82KZME(7) ITAA 1936 82KZMF ITAA 1936 82KZMF(1) ITAA 1936 Div 3 Subdiv H Pt III ITAA 1936 Part IVA ITAA 1936 177A ITAA 1936 177C ITAA 1936 177D ITAA 1936 177D(b) 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 35-10(3) ITAA 1997 35-10(4) ITAA 1997 35-30 ITAA 1997 35-35 ITAA 1997 35-40 ITAA 1997 35-45 ITAA 1997 35-55 ITAA 1997 35-55(1) ITAA 1997 35-55(1)(a) ITAA 1997 35-55(1)(b) ITAA 1997 Div 40 ITAA 1997 Subdiv 40-F ITAA 1997 Subdiv 40-G ITAA 1997 40-515 ITAA 1997 40-515(1)(a) ITAA 1997 40-515(1)(b) ITAA 1997 40-520(1) ITAA 1997 40-525(2) ITAA 1997 40-530(2) ITAA 1997 40-535 ITAA 1997 40-540 ITAA 1997 40-545 ITAA 1997 40-630 ITAA 1997 40-635 ITAA 1997 Div 70 ITAA 1997 70-35 ITAA 1997 Div 328 ITAA 1997 Subdiv 328-D ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G ITAA 1997 328-105 ITAA 1997 328-105(1)(a) ITAA 1997 328-105(1)(b) ITAA 1997 328-285(1) ITAA 1997 328-285(2) Copyright Act 1968 TAA 1953 Part IVAAA Corporations Act 2001
Case references: Commissioner of Taxation v. Lau (1984) 6 FCR 202 84 ATC 4929 (1984) 16 ATR 55
Subject references: NCL provisions non commercial losses Commissioner's discretion product rulings schemes and shams tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project