Product Ruling

PR 2006/32W

Income tax: Australian Bight Abalone Project 2006 - Wholesale Offer

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

Notice of Withdrawal

Product Ruling PR 2006/32 is withdrawn with effect from today.

1. Product Ruling PR 2006/32 set out the Commissioner's opinion on the tax consequences for entities participating in the Australian Bight Abalone Project 2006 - Wholesale Offer ('the Project'). The offer to participate in the Project was a wholesale offer, as it was limited to entities who are wholesale clients as described in section 761G of the Corporations Act 2001.

2. No entities were accepted under the wholesale offer as described in the Product Ruling on or before 15 June 2006. Therefore, Product Ruling PR 2006/32 has no application as it does not rule on the tax consequences for any entities.

Commissioner of Taxation
6 September 2006

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

TD 93/34
TR 92/20
TR 97/11
TR 98/22
TR 2000/8
TR 2001/14

Subject References:
carrying on a business
commencement of business
fee expenses
interest expenses
management fees
non-commercial losses
producing assessable income
product rulings
public rulings
tax avoidance
tax benefits under tax avoidance schemes
tax shelters
tax shelters project
taxation administration
trading stock

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 82KZMG
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
ITAA 1936 318
ITAA 1997 6-5
ITAA 1997 8-1
ITAA 1997 17-5
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-10(2)
ITAA 1997 35-55
ITAA 1997 35-55(1)(b)
ITAA 1997 Div 40
ITAA 1997 40-70(1)
ITAA 1997 40-75(1)
ITAA 1997 40-105
ITAA 1997 40-440
ITAA 1997 40-525(2)
ITAA 1997 Subdiv 61-J
ITAA 1997 Div 70
ITAA 1997 70-15
ITAA 1997 70-35
ITAA 1997 Div 328
ITAA 1997 Subdiv 328-D
ITAA 1997 328-180
ITAA 1997 328-225
ITAA 1997 328-225(1)
ITAA 1997 328-225(2)
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
IT(TP)A 1997 Div 328
IT(TP)A 1997 328-120
IT(TP)A 1997 328-125
TAA 1953
Copyright Act 1968
Corporations Act 2001
Corporations Act 2001 761G
Aquaculture Act 2001 (SA)

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