Income Tax Assessment Act 1997
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.
Section 70-115 assesses insurance or indemnity amounts for lost trading stock.
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