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Product Ruling PR 2005/97 sets out the Commissioner's view on the income tax consequences for entities participating in the ABN AMRO Rolling Instalment Warrants IZZ Series 2005 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 entities in the ABN AMRO Rolling Instalment Warrants IZZ Series. PR 2005/97 therefore has no application to entities entering into the ABN AMRO Rolling Instalment Warrants IZZ Series on or after 1 July 2007.