Product Ruling PR 2001/120W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2001/120 is withdrawn with effect from 21 May 2007. 1. Growers acquired an interest in the scheme to commercially grow and cultivate Paulownia trees for the purpose of harvesting and selling timber. 2. The Project was wound up on 21 May 2007, under an order of the Supreme Court of Queensland, following the appointment of an Administrator for the Responsible Entity on 28 February 2007. 3. Although this Product Ruling is withdrawn the tax benefits ruled on will still be available up until 21 May 2007 for those Growers included in the class of persons ruled for in this Product Ruling. Commissioner of Taxation 26 March 2008

Related rulings: PR 1999/95 TR 92/1 TR 97/11 TR 97/16 TR 92/20 TR 98/22 TD 93/34
Legislative references: 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)(a) ITAA 1997 35-55(1)(b) ITAA 1936 82KL ITAA 1936 Pt IVA
Subject references: carrying on a business commencement of a business management fees primary production producing assessable income product rulings public rulings schemes tax avoidance tax benefits