Product Ruling

PR 2007/49W

Income tax: Primary Yield Tomato Project - Pre 30 June 2007

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Notice of Withdrawal

Product Ruling PR 2007/49 is withdrawn with effect from today.

1. Product Ruling PR 2007/49 sets out the Commissioner's opinion on the tax consequences of Growers accepted into the Primary Yield Tomato Project (the Project) from 30 May 2007 to 15 June 2007 inclusive.

2. No applications were accepted and the Project did not proceed. Therefore, Product Ruling PR 2007/49 has no application as it does not rule on the tax consequences for any entity.

Commissioner of Taxation
8 August 2007

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

TR 97/7
TR 97/11
TR 98/22
TR 2000/8
TR 2002/6
TR 2002/11

Subject References:
carrying on a business
commencement of business
non-commercial losses
primary production
producing assessable income
product rulings
public rulings
tax benefit under tax avoidance schemes
tax shelters project
taxation administration

Legislative References:
ITAA 1936 82KL
ITAA 1936 Pt III Div 3 Subdiv H
ITAA 1936 82KZL
ITAA 1936 82KZM
ITAA 1936 82KZMA
ITAA 1936 82KZMB
ITAA 1936 82KZMC
ITAA 1936 82KZMD
ITAA 1936 82KZME
ITAA 1936 82KZMF
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
ITAA 1997 6-5
ITAA 1997 8-1
ITAA 1997 17-5
ITAA 1997 25-25
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-30
ITAA 1997 Subdiv 61-J
ITAA 1997 Div 70
ITAA 1997 70-35
ITAA 1997 Div 328
ITAA 1997 328-285
ITAA 1997 328-285(1)
ITAA 1997 328-285(2)
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
IT(TP)A 1997 328-120
IT(TP)A 1997 328-125
TAA 1953
TAA 1953 Sch 1 357-75(1)
Copyright Act 1968
Corporations Act 2001
SISA 1993

Case References:
Commissioner of Taxation v. Lau
(1984) 6 FCR 202
84 ATC 4929
(1984) 16 ATR 55