Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-45
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RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 385
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Primary production
Subdivision 385-E
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Primary producer can elect to spread or defer tax on profit from forced disposal or death of live stock
Operative provisions
SECTION 385-115 385-115 Your assessable income includes an amount for replacement live stock you breed
If you make the election in section 385-110 , then for the * disposal year and each of the next 5 income years, your assessable income includes any amount you choose for each replacement animal you breed during that income year. (However, you can choose not to include an amount.)
View history note
Hide history noteSECTION 385-115 385-115 Your assessable income includes an amount for replacement live stock you breed
If you make the election in section 385-110 , then for the * disposal year and each of the next 5 income years, your assessable income includes any amount you choose for each replacement animal you breed during that income year. (However, you can choose not to include an amount.)
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