IT 226W - Notice of Withdrawal
Cattle leasing scheme - deductibility of expenses
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Taxation Ruling IT 226 is withdrawn with effect from today.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  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 IT 226 is being withdrawn as Ferguson's case is discussed in more detail in Taxation Ruling TR 97/11 Income tax: am I carrying on a business of primary production?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 IT 226 has no ongoing relevance and is therefore withdrawn without replacement.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
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