Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-A - Preliminary  

Operative provisions

SECTION 832-60  

832-60   Valuation of trading stock affected by hybrid mismatch rules  

If:

(a) an amount of a deduction for an outgoing is disallowed under this Division; and

(b) the outgoing was incurred in connection with acquiring an item of *trading stock; and

(c) the item is on hand at the end of an income year;

the amount disallowed is to be disregarded in working out the *cost, market selling value or replacement value of the item at the end of the income year under section 70-45 .