Income tax: Slag Film Fund

Product Ruling PR 2003/43 sets out the Commissioner's opinion on the tax consequences for persons participating in the Slag Film Fund by entering into a Subscription Agreement appointing the Investors' Representative to enter into a Production Agreement, on the Investors' behalf, to produce and distribute a qualifying Australian Film entitled 'Slag'.

The minimum subscription was not met and the Project did not proceed. Product Ruling PR 2003/43 has no application as it does not rule on the tax consequences for any taxpayer.