Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 16E - 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.


 

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