Product Ruling

PR 2000/75A - Addendum

Income tax: Queensland Pine Forest 2000 Project

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FOI status:

may be released

Addendum

The applicant has requested that the minimum subscription requirement be reduced.

At paragraph 13, add the following points:

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Supplementary Prospectus for Queensland Pine Forests dated 31 July 2000;

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Public Rulings - Checklist Requests dated 22 December 2000;

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Letters received from GROSL dated 11 May 2001 and 15 May 2001.

Delete paragraph 19 and replace with:

19. A maximum of 450 Plantation Units is available under this Prospectus. There is no minimum subscription and no Plantation Units will be offered after 30 September 2000.

Delete paragraph 27 and replace with:

27. All application monies ($4,411 per Plantation Unit) will be deposited into a trust account held by the Custodian known as "Queensland Pine Forests - 2000 Project Application Account". Once the business of afforestation commences, the Custodian will release funds to the Manager in accordance with the custody agreement. All services covered by the application money will be completed during the period 1 July 2000 to 30 June 2001. The project will not commence before 1 July 2000 and not commence after 30 September 2000.

At paragraph 43 delete:

(or from when minimum subscription is reached to 30 June 2001, but will not commence before 1 July 2000)

Commissioner of Taxation
20 June 2001

References

ATO references:
NO 2000/13746