Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK  

Division 70 - Trading stock  

Subdivision 70-D - Assessable income arising from disposals of trading stock and certain other assets  

Operative provisions

SECTION 70-115   70-115   Compensation for lost trading stock  


Your assessable income includes an amount that:


(a) you receive by way of insurance or indemnity for a loss of *trading stock; and


(b) is not assessable as *ordinary income under section 6-5.


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