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Product Ruling PR 2004/74 sets out the Commissioner's view on the income tax consequences for entities participating in the Westpac SWA Series Self Funding Instalments 2004 Product Disclosure Statement for cash applicants and on-market purchasers.

From 1 July 2007, the recently enacted Division 247 of the Income Tax Assessment Act 1997 applies a different methodology for calculating the cost of capital protection for entities in the Westpac SWA Series Self Funding Instalments. PR 2004/74 therefore has no application to entities entering into the Westpac SWA Series Self Funding Instalments on or after 1 July 2007.