INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK  

Division 70 - Trading stock  

Subdivision 70-B - Acquiring trading stock  

SECTION 70-25   70-25   Cost of trading stock is not a capital outgoing  


An outgoing you incur in connection with acquiring an item of *trading stock is not an outgoing of capital or of a capital nature.
Note:

This means that paragraph 8-1(2)(a) does not prevent the outgoing from being a general deduction under section 8-1 .


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