The ATO Wed 25.6.2014, issued Product Ruling PR 2014/12 (AIL Almond Grower Project – Swan Hill 2007 Growers (to 15 June 2007) – financial years ending 30 June 2013 and 30 June 2014). It applies to growers that enter into the scheme between 18 October 2006 and 15 June 2007. Among other things, the Ruling states that provided the activities are carried out as described in the Ruling, the Commissioner will extend his discretion under s 35-55 to allow losses to be claimed for financial years ended 30 June 2013 and 30 June 2014.
[LTN 120, 25/6/14]