Product Ruling PR 1999/40W
Status: withdrawn







Preamble: The number, subject heading, and the What this Product Ruling is about (including Tax law(s), Class of persons and Qualifications sections), Date of effect, Withdrawal, Arrangement and Ruling parts of this document are a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 . Product Ruling PR 1999/95 explains Product Rulings and Taxation Rulings TR 92/1 and TR 97/16 together explain when a Ruling is a public ruling and how it is binding on the Commissioner.

Withdrawal notice: 1. This Product Ruling is withdrawn and ceases to have effect after 30 June 2001. The Ruling continues to apply, in respect of the tax law(s) ruled upon, to all persons within the specified class who enter into the specified arrangement during the term of the Ruling. Thus, the Ruling continues to apply to those persons, even following its withdrawal, who entered into the specified arrangement prior to withdrawal of the Ruling. This is subject to there being no material difference in the arrangement or in the persons' involvement in the arrangement. Commissioner of Taxation 26 May 1999 No draft issued

Related rulings: PR 98/1 TR 92/1 TR 97/11 TR 97/16 TD 93/34
Legislative references: ITAA1936 82KL ITAA1936 82KZM ITAA1936 90 ITAA1936 92 ITAA1936 Pt IVA ITAA1936 177A ITAA1936 177C ITAA1936 177D ITAA1997 6-5 ITAA1997 8-1 ITAA1997 8-1(1)(a) ITAA1997 8-1(1)(b) ITAA1997 42-15 ITAA1997 42-160 ITAA1997 42-165 ITAA1997 Subdiv 387-B ITAA1997 387-125 ITAA1997 Subdiv 387-C ITAA1997 387-150(3) ITAA1997 387-165 ITAA1997 387-170 ITAA1997 387-170(3) ITAA1997 387-185 ITAA1997 387-210 ITAA1997 387-305 ITAA1997 995-1(1)
Subject references: carrying on a business commencement of business fee expenses interest expenses management fees expenses primary production primary production expenses producing assessable income product rulings public rulings schemes and shams taxation administration tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project