Income tax: Becker Filmed Entertainment Fund

Product Ruling PR 2005/98 set out the Commissioner's opinion on the tax consequences for persons participating in the Becker Filmed Entertainment Fund ('the Project') who sign the Application Form, become one of the first owners of a Copyright interest in the Selected Films and who use that Copyright interest to derive assessable income by way of licence fees.

The minimum subscription was not met and the Project did not proceed. Product Ruling PR 2005/98 has no application as it does not rule on the tax consequences for any taxpayer.