Tax Law Improvement Act 1997 (121 of 1997)

Schedule 5   Trading stock (and some related matters)

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

82   Subsection 121G(10)

Omit all the words after “in respect of”, substitute “expenditure:

(a) taken under sections 36 and 36A of this Act to have been incurred in the acquisition of trading stock by the partnership; or

(b) taken under sections 70-90 and 70-95 and subsection 70-100(3) of the Income Tax Assessment Act 1997 to have been incurred in the acquisition of trading stock by the partnership.”.