Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 385 - Primary production  

Subdivision 385-E - Primary producer can elect to spread or defer tax on profit from forced disposal or death of live stock  

Operative provisions

SECTION 385-125  

385-125   Alternative election because of bovine tuberculosis has effect over 10 years not 5  

If you can make an election under this Subdivision because:

(a) ^* live stock are compulsorily destroyed under an ^* Australian law for the control of bovine tuberculosis; or

(b) ^* live stock die of that ^* disease;

sections 385-110 to 385-120 apply as if they referred to 10 income years instead of 5 years.