Income tax: real Dairy Project No. 1

Product Ruling PR 2007/42 sets out the Commissioner's opinion on the tax consequences of Farmers being accepted into the real Dairy Project No. 1 (the Project) for the purpose of carrying on the business of dairy farming.

No applications were accepted and the Project did not proceed. Therefore, Product Ruling PR 2007/42 has no application, as it does not rule on the tax consequences for any entity.