Income tax: Barkworth Olive Estates - Riverina

Product Ruling PR 2004/102 set out the Commissioner's opinion on the tax consequences for entities participating in the Barkworth Olive Estates - Riverina ('the Project') by acquiring a parcel of land ('a Farm') and entering into a Management Agreement for the purpose of carrying on a commercial olive project.

The Project did not proceed as no Farms were sold on or before 31 May 2005. PR 2004/102 has no application as it does not rule on the tax consequences for any taxpayer.