Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 16E
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Accruals assessability, etc., in respect of certain security payments
SECTION 159GY
159GY
EFFECT OF DIVISION WHERE QUALIFYING SECURITY IS TRADING STOCK
No amount shall be included in, or allowable as a deduction from, the assessable income of a taxpayer:
(a) under section 159GQ in relation to a qualifying security in respect of any year or part of a year of income during which the qualifying security forms part of the trading stock of the taxpayer; or
(b) (Omitted by No 82 of 1994)
(c) under section 159GS in relation to the transfer of a qualifying security by the taxpayer where, immediately before the transfer, the qualifying security was or formed part of the trading stock of the taxpayer.
View history note
Hide history noteNo amount shall be included in, or allowable as a deduction from, the assessable income of a taxpayer:
(a) under section 159GQ in relation to a qualifying security in respect of any year or part of a year of income during which the qualifying security forms part of the trading stock of the taxpayer; or
(b) (Omitted by No 82 of 1994)
(c) under section 159GS in relation to the transfer of a qualifying security by the taxpayer where, immediately before the transfer, the qualifying security was or formed part of the trading stock of the taxpayer.