Notice of Withdrawal
Product Ruling PR 2003/8 sets out the Commissioner's opinion on the tax consequences for persons participating in the Tanunda Hill Vineyard Project Stage II ('the Project') by entering into an allotment and management agreement for the purpose of carrying on a commercial viticulture project.
We have reviewed the Project and determined that the arrangement, as implemented, is materially different from that described in the Ruling for the following reasons: • the vineyard establishment work was carried out prior to any Growers being accepted into the project; and • this has a direct effect on the availability and/or quantum of deductions for all Growers.
As a result, Product Ruling PR 2003/8 has no application as it does not rule on the tax consequences for any taxpayer.
Growers who were accepted to participate in the Project cannot rely on PR 2003/8. However, such Growers may wish to lodge private ruling requests that will enable the tax consequences to be determined in relation to an individual's particular circumstances.