The ATO on Wed 20.11.2013, issued Product Ruling PR 2013/21 (Macquarie Almond Investment 2008 – Early Growers (to 15 June 2008)). The Ruling applies to Growers that enter into the scheme as described in the Ruling on or after 12 March 2008 and on or before 15 June 2008. The Ruling states that the Commissioner will exercise his discretion for the 2012-13 income year in relation to the deferral of losses from non-commercial business activities (s 35-55 of the ITAA 1997), provided that the business activity carried on is not materially different from the Product Ruling.
[LTN 225, 20/11/13]