Income tax: Environinvest Cropping Project - 2006 Farmers

Product Ruling PR 2005/65 dealt with the tax consequences of investing in the Project by Farmers who executed the Project Documents between 1 July 2005 and 31 May 2006 for growing, cultivating, harvesting and selling Crops.

The promoter has since advised the Tax Office that the Project did not proceed, and therefore, no interests were sold between 1 July 2005 and 31 May 2006. Therefore, PR 2005/65 has no application as it does not rule on the tax consequences for any entity.