Product Ruling PR 2008/13W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2008/13 is withdrawn with effect from today. 1. Product Ruling PR 2008/13 sets out the Commissioner's opinion on the way in which relevant provisions identified in the Ruling applies to the defined class of entities, referred to as Investors, who invest in Next Financial Instalments - Series NF 330 (Instalments) for the purpose of deriving assessable income. 2. The Tax Office has been advised that certain changes will be made to the Instalments offered to any prospective Investors. As a result, the scheme that is the subject of PR 2008/13 will not be relevant to any Investors who invest in the 'updated' Instalments, and these Investors will not form part of the class of entities to whom PR 2008/13 applies. 3. PR 2008/13 continues to apply to Instalments acquired before the withdrawal but does not apply to Instalments acquired after the withdrawal. 4. The 'updated' Instalments are dealt with by PR 2008/71 which issues today. PR 2008/71 only applies to Investors accepted into the scheme on or after the date of that Ruling. Commissioner of Taxation 5 November 2008

Related rulings: TR 95/33
Legislative references: ITAA 1936 51AAA ITAA 1936 82KL ITAA 1936 82KZL(1) ITAA 1936 82KZL(2)(a) ITAA 1936 82KZM ITAA 1936 82KZM(1) ITAA 1936 82KZMA ITAA 1936 82KZMD ITAA 1936 82KZMD(2) ITAA 1936 82KZME ITAA 1936 82KZME(4) ITAA 1936 82KZME(5) ITAA 1936 82KZME(5)(b)(iii) ITAA 1936 82KZMF ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 97 ITAA 1936 Pt IVA ITAA 1936 Sch 2C ITAA 1936 Sch 2C 245-35 ITAA 1936 Sch 2C 245-60 ITAA 1936 Sch 2C 245-65(1)(b) ITAA 1997 8-1 ITAA 1997 25-25 ITAA 1997 104-10 ITAA 1997 104-10(7) ITAA 1997 104-25 ITAA 1997 104-25(1)(c) ITAA 1997 109-5 ITAA 1997 110-25 ITAA 1997 110-25(2) ITAA 1997 110-25(4) ITAA 1997 110-55 ITAA 1997 Division 115 ITAA 1997 115-5 ITAA 1997 116-20 ITAA 1997 134-1 ITAA 1997 134-1(4) ITAA 1997 Division 247 ITAA 1997 247-10 ITAA 1997 247-20 ITAA 1997 247-20(3) ITAA 1997 247-20(6) ITAA 1997 247-30(1) ITAA 1997 247-30(2) ITAA 1997 Subdiv 328-C TAA 1953 TAA 1953 Sch 1 357-75(1) Copyright Act 1968 Corporations Act 2001 SISA 1993
Subject references: capital protected borrowing financial products instalments interest expenses prepaid expenses product rulings public rulings small business taxpayer taxation administration tax avoidance