Income tax: Frankland River Olives Stage 5

This Ruling sets out the Commissioner's opinion on the way in which certain tax laws apply to persons who take part in the Frankland River Olives Stage 5 Project ('the Project'). This Ruling applies to persons who were accepted to participate in the Project on or before 15 June 2003.

Frankland River Olives Company Ltd (the Applicant) has provided additional information to support a request for an extension of the closing date for applications to include the period from 16 June 2003 to 27 June 2003.

To provide the extension this Ruling will be replaced by Product Ruling PR 2003/36 which issued today.