Taxation Determination

TD 93/125A1 - Addendum

Income tax: is it necessary to do a stocktake at the end of the year ?

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Addendum

This Addendum amends Taxation Determination TD 93/125 to reflect the changes to the law caused by the repeal of inoperative provisions.

TD 93/125 is amended as follows:

1. Paragraph 1

Omit 'Subsection 28(1) the Income Tax Assessment Act 1936'; substitute 'Section 70-35 of the Income Tax Assessment Act 1997 (ITAA 1997)'.

2. Paragraph 3

After the paragraph, insert:

4. Under Subdivision 328-E of the ITAA 1997 a stocktake concession is available to small business entities.

3. Legislative references

Omit the reference; insert:

ITAA 1997 70-35

ITAA 1997 Subdiv 328-E

This Addendum applies on and from 14 September 2006.

Commissioner of Taxation
17 August 2011

References

ATO references:
NO 1-236C3JK