Income tax: Monini Olive Groves Project

Product Ruling PR 2004/24 set out the Commissioner's opinion on the tax consequences for persons participating in the Monini Olive Groves Project ('the Project') by entering into a Licence and Management Deed for the purpose of carrying on a commercial olive growing project.

The minimum subscription was not met and the Project did not proceed. Product Ruling PR 2004/24 has no application as it does not rule on the tax consequences for any taxpayer.