Taxation Ruling
TR 97/11ER - Erratum
Income tax: Income Tax: am I carrying on a business of primary production?
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Please note that the PDF version is the authorised version of this ruling.View the consolidated version for this notice.
FOI status:
may be releasedAt paragraph 49, page 17, omit the first sentence and replace it with "The situation may arise where a taxpayer is carrying on a business and has an intention to make a profit but the objective evidence is such that a profit is unlikely to be made in the short term.".
Commissioner of Taxation
30 July 1997
References
ATO references:
NO 96/5590-5
97/545-1
97/3882-7
ISSN 1039 - 0731
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