Division 70 - Trading stock  

Subdivision 70-A - What is trading stock  

SECTION 70-10   Meaning of trading stock  


Trading stock includes:

(a) anything produced, manufactured or acquired that is held for purposes of manufacture, sale or exchange in the ordinary course of a *business; and

(b) *live stock.


Trading stock does not include:

(a) a *Division 230 financial arrangement; or

(b) a *CGT asset covered by section 275-105 that:

(i) is owned by a *complying superannuation fund, a *complying approved deposit fund or a *pooled superannuation trust; or

(ii) is a *complying superannuation asset of a *life insurance company.
Note 1:

Shares in a PDF are not trading stock. See section 124ZO of the Income Tax Assessment Act 1936.

Note 2:

If a company becomes a PDF, its shares are taken not to have been trading stock before it became a PDF. See section 124ZQ of the Income Tax Assessment Act 1936.


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