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Product Ruling PR 2004/60 set out the Commissioner's opinion on the tax consequences for persons participating in the Environinvest Eucalypt Project No. 7 ('the Project') by entering into a lease and management agreement for the purpose of carrying on a commercial afforestation project.

PR 2004/60 is withdrawn as a new arrangement has been implemented by the Responsible Entity for this Project and no further Growers will be accepted under the old arrangement. The Responsible Entity has introduced an internal financier and issued a supplementary Product Disclosure Statement which alters the fees associated with this Project.

The new arrangement is dealt with by PR 2005/31 which issues today. PR 2005/31 only applies to Growers accepted from the date of this Ruling.

PR 2004/60 applies to persons who were accepted to participate in the Project between 19 May 2004 and 16 March 2005. Despite the withdrawal of this Ruling, it continues to apply to Growers accepted between these dates. Such Growers can continue to rely on the Ruling made.