Income Tax (Transitional Provisions) Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK  

Division 70 - Trading stock  

SECTION 70-1   Application of Division 70 of the Income Tax Assessment Act 1997  

70-1(1)    

Division 70 (Trading stock) of the Income Tax Assessment Act 1997 applies to assessments for the 1997-98 income year and later income years.

70-1(2)    
However, the sections of that Division listed in the table apply in accordance with the corresponding sections of this Act.

Application provisions for specific sections
Item	This section of the Income Tax Assessment Act 1997 …	Applies as described in this provision of this Act …
1	70-20	70-20
2	70-55	70-55(1)
3	70-70	70-70
4	70-90	70-90
5	70-95	70-90
6	70-100	70-100
7	70-105	70-105
8	70-115	70-115