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
51 Before subsection 31C(1)
Insert:
(1A) This section applies only to a purchase that takes place before 1 July 1997.
Note: Section 70-20 (Non-arm’s length transactions) of the Income Tax Assessment Act 1997 deals with purchases taking place on or after 1 July 1997.
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