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
42 Subsection 995-1(1)
Insert:
value of an item of *trading stock has the meaning given by Subdivision 70-C.
Note: For the value of trading stock at the start of the 1997-98 income year, see section 70-40 of the Income Tax (Transitional Provisions) Act 1997.
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