Product Ruling PR 2005/22W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2005/22 is withdrawn with effect from today. 1. This Ruling sets out the Commissioner's opinion on the way in which certain tax laws apply to persons who take part in the Rewards Group Sandalwood Project 5 - 2006 Growers ('the Project'). This Ruling applied to Growers who were accepted to participate in the Project on or before 30 June 2006. This Ruling continues to apply to Growers who were accepted to participate in the Project on or before 24 May 2006 in relation to the deductibility of costs incurred for the year ended 30 June 2006. 2. As a result of changes to the finance being offered to Growers, this Ruling is now withdrawn. Product Ruling PR 2006/94 replaces PR 2005/22 and applies from 24 May 2006. Commissioner of Taxation 24 May 2006 This Ruling has been replaced by Product Ruling PR 2006/94.

Related rulings: PR 1999/95 PR 2005/21 TD 93/34 TD 2003/12 TR 92/1 TR 97/16 TR 92/20 TR 97/11 TR 98/22 TR 2000/8 TR 2001/14
Legislative references: ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 82KL 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 82KZMG ITAA 1936 82KZMG(1) ITAA 1936 82KZMG(2) ITAA 1936 82KZMG(3) ITAA 1936 82KZMG(4) ITAA 1936 82KZMG(5) ITAA 1936 Div 6 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 25-25(1) ITAA 1997 25-25(3) ITAA 1997 25-25(4) ITAA 1997 25-25(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)(b) ITAA 1997 108-5 ITAA 1997 110-25(2) ITAA 1997 Div 328 ITAA 1997 328-105 ITAA 1997 328-105(1)(a) ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G TAA 1953 Pt IVAAA 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: advance deductions and expenses for certain forestry expenditure borrowing expenses carrying on a business commencement of business fee expenses forestry agreement interest expenses management fees non commercial losses producing assessable income product rulings public rulings seasonally dependent agronomic activity taxation administration tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project