Product Ruling PR 2004/72W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2004/72 is withdrawn with effect from today. 1.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 Lakevista Abalone Aquaculture Project ('the Project'). This Ruling applies to persons who were accepted to participate in the Project on or before 1 December 2004. 2. Lakevista Enterprises Ltd (the Applicant) has advised that the Project did not proceed and therefore the Product Ruling has no application. 3. Product Ruling PR 2004/72 does not rule on the income tax consequences for any taxpayer. Commissioner of Taxation 28 January 2005

Related rulings: PR 1999/95 TD 93/34 TR 92/1 TR 92/20 TR 97/11 TR 97/16 TR 98/22 TR 2000/8 TR 2001/14
Legislative references: ITAA 1936 44(1) ITAA 1936 82KL ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 82KZL ITAA 1936 82KZME ITAA 1936 82KZMF ITAA 1936 82KZMF(1) 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 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 70 ITAA 1997 70-15 ITAA 1997 70-35 ITAA 1997 70-45 ITAA 1997 Div 328 ITAA 1997 108-5 ITAA 1997 110-25(2) ITAA 1997 328-105 ITAA 1997 328-105(1)(a) ITAA 1997 328-285 ITAA 1997 328-285(1) ITAA 1997 Subdiv 328-F ITAA 1997 Subdiv 328-G TAA 1953 Pt IVAAA Copyright Act 1968 Corporations Act 2001 Corporations Act 2001 761G Corporations Act 2001 761G(7)(a) Corporations Act 2001 761G(7)(c) Corporations Act 2001 761G(7)(d) Corporations Act 2001 1012E Corporations Act 2001 1012E(2) Corporations Act 2001 1012E(5) Fish Resources Management Act 1994 7(2) Fish Resources Management Act 1994 Pt 8
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 taxation administration tax avoidance tax benefits under tax avoidance schemes tax shelters tax shelters project trading stock