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21 May 09 Managed Investment Schemes: Purported partnership participation - TA 2009/13

This Taxpayer Alert, which was released on 21 May 2009, describes an arrangement where a purported partnership is inserted into an investment in an afforestation, agricultural or horticultural managed investment scheme (MIS) in order to generate deductions for the newly inserted partners. In addition to other taxation issues, because of the inserted partnership, the implementation of the arrangement is likely to be materially different from that described in any relevant product rulings for the underlying MIS.

Schemes of the type described in this alert are not covered by ATO product rulings or other tax clearances.

For a copy of TA 2009/13 go here.

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