I compiled a private ruling application myself and faxed it to the ATO about 2 weeks ago. I thought I might post my adventure as it unfolds for those also looking to do this. Today a nice man from the ATO called me. I have had nightmares about answering the phone and hearing 'This is xxx from the ATO' but it wasn't that bad. He asked a couple of questions to clarify my requests and said that my "work was excellent" and "amazing".... Now that's is nice to hear, but all I needed to hear was "yes". They are unable to give oral ruling, but he said I also could have called for advice instead of applying for a ruling. Hmmm, not binding and probably not accurate me thinks. Further details of the man from the ATO are being mailed to me, and I should expect the written ruling in about 2 weeks. The outcome of the ruling will not change what I am doing as I am already doing it, just determine what I do and don't claim for some interest deductions. I made this point clear on the application and today on the phone. I'll keep you all posted.