Product Ruling
PR 2006/70ER - Erratum
Income tax: 2006 Cherry Project
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Erratum
This Erratum corrects Product Ruling PR 2006/70 to reflect the corrections made to fees disclosed in the draft Licence and Management Agreement, dated 19 April 2006.
PR 2006/70 is corrected as follows:
Delete the table; substitute:
| Fees | Year 1 (to 30 June 2006) | Year 2 (to 30 June 2007) | Year 3 (to 30 June 2008) |
| Land and infrastructure licence fees | $317 | $2,742 | $2,810 |
| Establishment fee | $14,924 | $693 | 0 |
| Management fee | $947 | $15,226 | $18,407 |
| Trustee Services fee | $670 | $687.50 | $704 |
| Subscription for units in Property Trust | $24,798 | $6,073 | 0 |
| Total amount payable | $41,656.00 | $27,071.50 | $23,571.00 |
Delete the table; substitute:
| Fee Type | Year ended 30 June 2006 | Year ended 30 June 2007 | Year ended 30 June 2008 |
| Land and infrastructure licence fee | $317 See Notes (i) & (ii) | $2,742 See Notes (i), (ii) & (iii) | $2,810 See Notes (i), (ii) & (iii) |
| Management fee | $947 See Notes (i) & (ii) | $15,226 See Notes (i), (ii) & (iii) | $18,407 See Notes (i), (ii) & (iii) |
| Trustee Services fee | $670 See Notes (i) & (ii) | $687.50 See Notes (i), (ii) & (iii) | $704 See Notes (i), (ii) & (iii) |
This Erratum applies on and from 3 May 2006, the date Product Ruling PR 2006/70 issued.
Commissioner of Taxation
24 May 2006
References
ATO references:
NO 2005/18404
ISSN: 1441-1172