Income tax: 2009 AIL Red Ironbark Project

Product Ruling PR 2009/42 set out the Commissioner's opinion on the tax consequences for persons participating in the 2009 AIL Red Ironbark Project (the Project) by entering into a Woodlot Sublease and a Management Agreement for the purpose of carrying on a commercial forestry project.

The Project did not proceed, therefore, no investors have been able to enter into the Project as Participants. Product Ruling PR 2009/42 has no application as it does not rule on the tax consequences for any taxpayer.