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Product Ruling PR 2005/70 sets out the Commissioner's view on the income tax consequences for entities participating in ABN AMRO Rolling Instalment Warrants IZQ Series 2004 Product Disclosure Statement for cash applicants and secondary 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 ABN AMRO Rolling Instalment Warrants IZQ Series 2004. PR 2005/70 therefore has no application to entities entering into the ABN AMRO Rolling Instalment Warrants IZQ Series 2004 on or after 1 July 2007.