Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 385 - Primary production  

Subdivision 385-E - Primary producer can elect to spread or defer tax on profit from forced disposal or death of live stock  

Operative provisions

SECTION 385-115   385-115   Your assessable income includes an amount for replacement live stock you breed  


If you make the election in section 385-110 , then for the * disposal year and each of the next 5 income years, your assessable income includes any amount you choose for each replacement animal you breed during that income year. (However, you can choose not to include an amount.)

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