Product Ruling

PR 2009/42W

Income tax: 2009 AIL Red Ironbark Project

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Notice of Withdrawal

Product Ruling PR 2009/42 is withdrawn with effect from today.

1. Product Ruling PR 2009/42 set out the Commissioner's opinion on the tax consequences for persons participating in the 2009 AIL Red Ironbark Project (the Project) by entering into a Woodlot Sublease and a Management Agreement for the purpose of carrying on a commercial forestry project.

2. The Project did not proceed, therefore, no investors have been able to enter into the Project as Participants. Product Ruling PR 2009/42 has no application as it does not rule on the tax consequences for any taxpayer.

Commissioner of Taxation
5 August 2009

Not previously issued as a draft

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

TR 97/7
TR 97/11
TR 98/22