INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-25
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TRADING STOCK
Division 70
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Trading stock
Subdivision 70-C
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Accounting for trading stock you hold at the start or end of the income year
SECTION 70-40 (ARCHIVE)
Value of trading stock at start of income year
70-40(2)
CCH Note:
Below is material repealed as inoperative in s 70-40 (notes only) by No 101 of 2006.
Note 1:
For the value of trading stock at the start of the 1997-98 income year, see section 70-40 of the Income Tax (Transitional Provisions) Act 1997 .
Note 2:
If you held, as trading stock at the start of the 2001-2002 income year, oysters that were acquired by using the traditional stick farming method, see section 70-41 of the Income Tax (Transitional Provisions) Act 1997 .
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