Taxation Ruling
IT 226W - Notice of Withdrawal
Cattle leasing scheme - deductibility of expenses
-
Please note that the PDF version is the authorised version of this withdrawal notice.
Notice of Withdrawal
Taxation Ruling IT 226 is withdrawn with effect from today.
1. IT 226 explains the decision in Ferguson v. Federal Commissioner of Taxation [1979] FCA 29; 79 ATC 4261; (1979) 9 ATR 873 (Ferguson's case) which relates to the deductibility of certain expenses associated with a cattle leasing scheme under subsection 51(1) of the Income Tax Assessment Act 1936.
2. IT 226 is being withdrawn as Ferguson's case is discussed in more detail in Taxation Ruling TR 97/11 Income tax: am I carrying on a business of primary production?
3. IT 226 has no ongoing relevance and is therefore withdrawn without replacement.
Commissioner of Taxation
19 April 2017
© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
