INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK  

Division 70 - Trading stock  

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

Operative provisions

SECTION 70-85   70-85   Application of this Subdivision to certain other assets  


This Subdivision (except section 70-115 ) applies to certain assets of a *business as if they were *trading stock on hand of the entity that carries on that business. The assets are:


(a) standing or growing crops; and


(b) crop-stools; and


(c) trees planted and tended for sale.

Note:

Section 70-115 assesses insurance or indemnity amounts for lost trading stock.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.