Product Ruling PR 2006/110W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2006/110 is withdrawn with effect from today. 1. Product Ruling PR 2006/110 sets out the Commissioner's opinion on the tax consequences for entities participating in the Primary Yield Cropping Project No. 2 (for entities accepted into the Project on or before 15 June 2006) by entering into a Lease and a Management Agreement for the purpose of carrying on a commercial cropping project. 2. The Project did not proceed as no entities entered into the scheme described in the Product Ruling during the relevant period. Therefore, Product Ruling PR 2006/110 has no application as it does not rule on the tax consequences for any entity. Commissioner of Taxation 2 August 2006

Related rulings: TR 97/11 TR 98/22 TR 2000/8 TR 2001/14 TR 2002/6 TR 2002/11
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 Pt 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 25-25 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 Subdiv 61-J ITAA 1997 Div 70 ITAA 1997 Pt 3-1 ITAA 1997 102-22 ITAA 1997 104-25 ITAA 1997 104-25(4) ITAA 1997 108-5 ITAA 1997 109-5(2) ITAA 1997 Subdiv 110-A ITAA 1997 110-25(2) ITAA 1997 110-25(2)(a) ITAA 1997 110-45 ITAA 1997 110-53 ITAA 1997 Subdiv 110-B ITAA 1997 110-55(4) ITAA 1997 116-30(1) ITAA 1997 116-30(3) ITAA 1997 Div 328 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 TAA 1953 Sch 1 357-75(1) Copyright Act 1968 Corporations Act 2001
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