The ATO on Wed 23.10.2013, issued the following Product Rulings:
- PR 2013/17 (AgriWealth 2014 Softwood Timber Project). According to this Ruling, a Grower can claim deductions for specified amounts (eg establishment services fees, etc) when they are paid to the Manager. It applies prospectively from Wed 23.10.2013, the date it was published.
- PR 2013/18 (Macquarie Almond Investment 2006 – Early Growers (to 15 June 2006) and PR 2013/19 (Macquarie Almond Investment 2006 – Late Growers (Post 30 June 2006)). The Rulings specify the conditions that must be met for the Commissioner to exercise his discretion in relation to the deferral of losses from non-commercial business activities (s 35-55 of the ITAA 1997) for the 2012-13 income year. PR 2013/18 applies only to the specified class of entities that entered into the scheme set out in the Ruling on or after 5 April 2006 and on or before 15 June 2006. PR 2013/19 applies only to the specified class of entities that entered into the scheme set out in the Ruling on or after 16 August 2006 and on or before 15 June 2007.
- PR 2013/20 (Tax consequences of investing in the Westpac Protected Equity Loan). This Ruling sets out the Commissioner’s opinion concerning various tax consequences for investors accepted to participate in the scheme specified in the Ruling on or after 22 July 2013 and on or before 30 June 2016. It applies prospectively from 22 July 2013.
[LTN 205, 23/10/13]