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Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK  

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Division 70 - Trading stock  

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

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SECTION 70-75   What this Subdivision is about  

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Your assessable income includes the market value of an item of trading stock if you dispose of it outside the ordinary course of business or it ceases to be trading stock in certain other circumstances.

This Subdivision treats certain other assets in the same way as trading stock.

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