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Product Ruling PR 2006/40 sets out the Commissioner's opinion on the tax consequences for entities participating in the Premium Plantations Hardwood Sawlog Project 2006 (1 July 2006 to 30 September 2006 Growers) for the purpose of carrying on a commercial afforestation business.

After a review of the Project by the holding company of the Responsible Entity, it was decided not to proceed with the Project. Therefore, PR 2006/40 has no application as it does not rule on the tax consequences for any entity.