Income tax: NTT Mahogany Project

Product Ruling PR 2004/105 sets out the Commissioner's opinion on the way in which certain tax laws apply to Growers who take part in the NTT Mahogany Project (the Project). This Ruling continues to apply to Growers who were accepted to participate in the Project on or before 30 June 2005 in relation to the deductibility of costs incurred for the year ended 30 June 2005.

As a result of changes to the annual management fee paid by Growers and the Simplified Tax System, this Ruling is now withdrawn. Product Ruling PR 2005/110 replaces PR 2004/105 and applies from 26 October 2005.