Income tax: Paulownia Timber Plantations Project No. 1

Product Ruling PR 2001/38 is withdrawn with effect from today.

Product Ruling PR 2001/38 sets out the Commissioner's opinion on the tax consequences for persons participating in the Paulownia Timber Plantation Project No.1 (the Project) by entering into a Licence and a Farming Agreement for the purpose of carrying on a commercial forestry project.

As the minimum subscription requirement was not met, the Project did not proceed.

Product Ruling PR 2001/38 has no application as it does not rule on the tax consequences for any taxpayer.