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What is a product?

Types of arrangements on which we issue product rulings and the terms we use.

Last updated 31 July 2025

What is a product?

A product is an arrangement where a number of participants individually enter into substantially the same contractual arrangements and transactions (the scheme) with a common entity or group of entities.

A product ruling will only be given in relation to a similar group of participants, so that the same tax result will occur for each. For example, they may all enter into largely the same management agreements with a responsible entity or manager connected to the product or project.

Types of products

The product may be:

  • an investment arrangement, such as a managed investment scheme
  • a tax-effective arrangement
  • a financial arrangement
  • an insurance arrangement.

Often, the product is offered to the general public through an information memorandum or product disclosure statement, but individuals may also be personally invited to participate.

Common types of products we are asked to rule on are:

  • forestry schemes (for example, blue gums, pine, sandalwood)
  • financial products
  • investment-linked life insurance policies.

A product ruling may also be appropriate for other types of products.

Terms we use in product rulings

We use the following terms in relation to product rulings:

  • Scheme is a general term we use to refer to any arrangement, agreement or set of agreements. We describe the scheme in our product rulings.
  • The promoter is typically the entity offering the product.
  • A product ruling participant (or investor or customer) is the person who enters into a scheme.
  • The product ruling applicant (or promoter) is the person who applies for a ruling from us on behalf of the participants or potential participants in the product. The applicant may be the responsible entity or manager of a managed investment scheme, the product issuer or its representative.

 

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