Tax Law Improvement Act 1997 (121 of 1997)
Schedule 5 Trading stock (and some related matters)
Part 3 Consequential amendment of the Income Tax Assessment Act 1936
48 Before subsection 28(1)
Insert:
(1A) This section does not apply to the 1997-98 year of income or a later year of income.
Note: Subdivision 70-C (Accounting for trading stock you hold at the start or end of the income year) of the Income Tax Assessment Act 1997 applies to those years of income.
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