Taxation Determination

TD 2003/12A - Addendum

Income tax: what activities are 'seasonally dependent agronomic activities' for the purposes of section 82KZMG of the Income Tax Assessment Act 1936?

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FOI status:

may be released

Addendum

This Addendum amends Taxation Determination TD 2003/12 to incorporate the extension until 30 June 2008 of the '12-month rule' for certain prepaid expenditure by investors in forestry managed investment schemes. The extension was made by the Tax Laws Amendment (2005 Measures No. 5) Act 2005 which received the Royal Assent on 19 December 2005.

TD 2003/12 is amended as follows:

1. Date of effect

Delete paragraph 11 and replace with:

11. This Determination applies to arrangements to which section 82KZMG of the ITAA 1936 applies. That section applies generally to qualifying expenditure incurred on or after 2 October 2001 and on or before 30 June 2008.

This Addendum applies on and from 19 December 2005.

Commissioner of Taxation
18 January 2006

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

TD 2003/12