Taxation Determination

TD 2003/12W

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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Notice of Withdrawal

Taxation Determination TD 2003/12 is withdrawn with effect from today.

1. TD 2003/12 explains what activities are 'seasonally dependent agronomic activities' for the purposes of section 82KZMG of the Income Tax Assessment Act 1936 (ITAA 1936). Subject to satisfying the other conditions in section 82KZMG of the ITAA 1936 and section 8-1 of the Income Tax Assessment Act 1997, an immediate deduction is available for certain prepaid expenditure related to seasonally dependent agronomic activities under a plantation forestry managed agreement.

2. While section 82KZMG of the ITAA 1936 is still in force, paragraph 82KZMG(2)(a) provides that a deduction can only be claimed under section 82KZMG where the expenditure was incurred between 2 October 2001 and 30 June 2008 inclusive.

3. Therefore, TD 2003/12 has no ongoing relevance and is withdrawn without replacement.

Commissioner of Taxation
20 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Previously released as TD 2002/D4.

References

ATO references:
NO 1-9N72KXS

ISSN: 2205-6201

Related Rulings/Determinations:

TR 92/1
TR 97/16

Subject References:
advance payments and expenses
forestry agreement
seasonally dependent agronomic activity

Legislative References:
ITAA 1997 8-1
ITAA 1936 Subdiv H Div 3 Part III
ITAA 1936 82KZME
ITAA 1936 82KZMF
ITAA 1936 82KZMG
TAA 1953 Part IVAAA

TD 2003/12W history
  Date: Version: Change:
  14 May 2003 Original ruling  
  18 January 2006 Consolidated ruling Addendum
You are here 20 December 2016 Withdrawn