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27 Aug 08 Updated information about product ruling applications

Product rulings for agricultural managed investment schemes (MIS) ceased from 1 July 2008 following the release of taxation ruling TR 2007/8. However, the views expressed in that ruling are under appeal to the Full Federal Court. The ATO therefore announced on 2 May 2008 that it would accept applications for product rulings relating to agricultural MIS for the 2008-09 year, process them to the extent possible, but hold off on issuing them pending the decision by the Full Federal Court. For more information about product ruling applications, go here and here

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