Product Ruling

PR 2010/11A1 - Addendum

Income tax: Elders Diversified Forestry Project 2010 - Single Contribution Investors

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Product Ruling PR 2010/11 to reflect the substitution of the Red Mahogany component of the Elders Diversified Forestry Project 2010 (the Project) with an increased Pulpwood component.

PR 2010/11 is amended as follows:

1. Paragraph 18

Omit:

tending of four species of trees, being Eucalyptus globulus (or similar pulpwood variety), Eucalptus pellita, Santalum album, and Tectona grandis, for felling in Australia.

Substitute

tending of three species of trees, being Eucalyptus globulus (or similar pulpwood variety), Santalum album, and Tectona grandis, for felling in Australia.

2. Paragraph 24

Omit '1,000 Red Mahogany trees;'

3. Paragraph 41

(a) Insert after the second dot point

•

Additional Correspondence dated 9 September 2011;

(b) Omit the last two dot points; substitute:

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Loan Application form for the Preferred Financier, received 8 April 2010;

•

Funding Terms Sheet from the Preferred Financier, received 16 April 2010;

•

Supplemental Deed Poll received 10 September 2011; and

•

Notice of Meeting and Explanatory Memorandum received 10 September 2011;

4. Table to paragraph 44

(a) First row, second column

Omit: 'Red Mahogany,'

(b) Second row, second column

Omit: 'Red Mahogany - Wet tropics coastal region of Far North Queensland.'

(c) Sixth row, second column

Omit cell and substitute

Approximately 0.95 hectares, comprising:

•

0.84 hectares of Pulpwood

•

0.06 hectares of Indian Sandalwood and

•

0.05 hectares of Teak.

(d) Seventh row, second column

Omit: 'Red Mahogany, 1,000 trees'

5. Paragraph 48

Omit: 'approximately 0.9 hectares in size'; substitute: 'approximately 0.95 hectares in size'

6. Paragraph 53

Omit the second dot point.

7. Paragraph 54

(a) Omit: 'approximately 0.9 hectares'; substitute: 'approximately 0.95 hectares'

(b) Omit: 'and Red Mahogany' from the first dot point.

This Addendum applies on and from 23 November 2011.

Commissioner of Taxation
23 November 2011

References

ATO references:
NO 1-3JFBJH9