Product Ruling PR 2002/40W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2002/40 is withdrawn with effect from today. 1. This Product Ruling relates to a project that involves the production of 22 one hour episodes for the third series of the television drama 'The Lost World'. Under the terms of the arrangement investors were to make capital contributions towards the production of the 22 episodes and acquire an interest in the copyright of the completed episodes in proportion to their contribution. 2. The project did not proceed. The minimum subscription level was not achieved as no capital contributions were received from arm's length investors. Therefore the Product Ruling has no application to any investors and will be withdrawn. Commissioner of Taxation 22 October 2003

Related rulings: PR 1999/95 TR 92/1 TR 92/20 TR 97/16 TR 98/22 TD 93/34
Legislative references: ITAA 1936 82KL ITAA 1936 Div 10B ITAA 1936 Div 5 of Part III ITAA 1936 82KL ITAA 1936 90 ITAA 1936 91 ITAA 1936 92 ITAA 1936 Part IVA ITAA 1936 124K(1) ITAA 1936 124L ITAA 1936 124L(1) ITAA 1936 124L(1)(b) ITAA 1936 124M ITAA 1936 124R ITAA 1936 124S ITAA 1936 124S(1) ITAA 1936 124U ITAA 1936 124UA ITAA 1936 124UA(1) ITAA 1936 124UA(2) ITAA 1936 177A ITAA 1936 177C ITAA 1936 177D ITAA 1997 Div 27 ITAA 1997 Div 35 ITAA 1997 35-5(1) ITAA 1997 35-5(2) ITAA 1997 995-1 TAA 1953 Pt IVAAA Corporations Act 2001 708 Corporations Act 2001 708(1) Corporations Act 2001 708(2) Corporations Act 2001 708(3) Corporations Act 2001 708(4) Corporations Act 2001 708(5) Corporations Act 2001 708(6) Corporations Act 2001 708(7) Corporations Act 2001 708(8) Corporations Act 2001 708(9) Corporations Act 2001 708(10) Corporations Act 2001 708(11) Corporations Act 2001 708(11)(a) Corporations Act 2001 708(11)(b) Corporations Act 2001 708(11)(h) Copyright Act 1968 A New Tax System (Goods and Services Tax) Act 1999
Subject references: Australian films film income film industry interest expenses product Rulings public Rulings tax avoidance tax administration