Product Ruling

PR 2003/40A2 - Addendum

Income tax: Macquarie Forestry Investment

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FOI status:

may be released

Addendum

This Addendum amends Product Ruling PR 2003/40 to incorporate details of the tree insurance offered to Growers in connection with their investment in the Timber Product.

PR 2003/40 is amended as follows:

1. Paragraph 14

Insert the following as the last dot point of the paragraph:

•

Standing Timber Insurance Policy ('Tree Insurance Policy').

2. Paragraph 17

Omit the third sentence and substitute with:

This Ruling only applies to participants in the Timber Product who have taken out insurance in respect of the trees, at or before the time of planting, on the terms of the Tree Insurance Policy, or otherwise, against damage or destruction in terms of clause 4.1(b) of Schedule 1 of the Constitution of the Macquarie Eucalypt Project.

This Addendum applies on and from 4 June 2003.

Commissioner of Taxation
19 May 2004

References

ATO references:
NO 2003/11684