Tax Law Improvement Act 1997 (121 of 1997)
Schedule 5 Trading stock (and some related matters)
Part 2 Consequential amendment of the Income Tax Assessment Act 1997
16 Section 12-5 (table item headed 'timber')
Omit:
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land attributable to felled timber, part of purchase price |
124J |
substitute:
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death of owner of land carrying trees, deduction of the part of land price paid for trees |
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disposal of land carrying trees, deduction of the part of land price paid for trees |
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felling trees, deduction of price of land attributable to trees felled or of price of right to fell trees |
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