Product Ruling

PR 2002/142W

Income tax: Clews Road Vineyard Estate Project

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FOI status:

Notice of Withdrawal

Product Ruling PR 2002/142 is withdrawn with effect from today.

1. Product Ruling PR 2002/142 sets out the Commissioner's opinion on the tax consequences for persons participating in the Clews Road Vineyard Estate Project ('the Project') by entering into Investment, Vineyard Management and Vineyard Lease Agreements for the purpose of carrying on a commercial viticulture project.

2. We have reviewed the Project and determined that the arrangement, as implemented, is materially different from that described in the Product Ruling for the following reasons:

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the 2003 and 2004 Clews Road Establishment Fees, Vines Costs Fee, Irrigation and Trellising Purchase Prices were not payable on entering the Instalment Agreement; and

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the 2004 Clews Road Establishment Services and the majority of the trellising services were not completed by 30 June 2004.

3. As a result, Product Ruling PR 2002/142 has no application as it does not rule on the tax consequences for any taxpayer.

4. Growers who were accepted to participate in the Project cannot rely on PR 2002/142. However, a Grower may lodge an application for a private ruling in regard to the tax consequences of the Grower's particular circumstances.

Commissioner of Taxation
10 November 2004

References

ATO references:
NO 2003-11684

Related Rulings/Determinations:

TR 97/11
TR 97/16
PR 1999/95
TR 92/1
TR 92/20
TD 93/34
TR 98/22
TR 2000/8

Subject References:
carrying on a business
commencement of business
fee expenses
horticulture
irrigation expenses
management fees expenses
primary production
primary production expenses
primary production income
producing assessable income
product rulings
public rulings
schemes and shams
tax administration
tax avoidance
tax benefits under tax avoidance schemes
tax shelters
tax shelters project

Legislative References:
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 35-10(3)
ITAA 1997 35-10(4)
ITAA 1997 35-30
ITAA 1997 35-35
ITAA 1997 35-40
ITAA 1997 35-45
ITAA 1997 35-55
ITAA 1997 35-55(1)
ITAA 1997 35-55(1)(a)
ITAA 1997 35-55(1)(b)
ITAA 1997 Div 40
ITAA 1997 40-F
ITAA 1997 40-G
ITAA 1997 40-25
ITAA 1997 40-70(1)
ITAA 1997 40-75(1)
ITAA 1997 40-100
ITAA 1997 40-105
ITAA 1997 40-515
ITAA 1997 40-515(1)(a)
ITAA 1997 40-515(1)(b)
ITAA 1997 40-520(1)
ITAA 1997 40-525(2)
ITAA 1997 40-525(3)
ITAA 1997 40-530
ITAA 1997 40-535
ITAA 1997 40-540
ITAA 1997 40-545
ITAA 1997 40-550
ITAA 1997 Div 70
ITAA 1997 70-35
ITAA 1997 Div 328
ITAA 1997 Subdiv 328-D
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
ITAA 1997 328-105
ITAA 1997 328-105(1)(a)
ITAA 1997 328-105(1)(b)
ITAA 1997 328-185
ITAA 1997 328-190
ITAA 1997 328-285
ITAA 1997 328-285(1)
ITAA 1997 328-285(2)
ITAA 1936 82KL
ITAA 1936 82KZL
ITAA 1936 82KZL(1)
ITAA 1936 82KZME
ITAA 1936 82KZME(1)
ITAA 1936 82KZME(2)
ITAA 1936 82KZME(3)
ITAA 1936 82KZME(4)
ITAA 1936 82KZME(7)
ITAA 1936 82KZMF
ITAA 1936 82KZMF(1)
ITAA 1936 Div 3 of Part III
ITAA 1936 Part IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
TAA 1953 Part IVAAA
Corporations Act 2001 761G
Corporations Act 2001 761G(7)(a)
Copyright Act 1968

Case References:
FCT v. Lau
84 ATC 4929
16 ATR 55