Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 385-90 What this Subdivision is about
You can elect to exclude from your assessable income the profit on a forced disposal or death of live stock that you held as assets of a primary production business you carry on in Australia.
The excluded profit is then brought into your assessable income over a 5 year period in one of 2 ways.
| 385-95 | Basic principles for elections under this Subdivision |
| Operative provisions | |
| 385-100 | Cases where you can make an election |
| 385-105 | Election to spread tax profit over 5 years |
| 385-110 | Alternative election to defer tax profit and reduce cost of replacement live stock |
| 385-115 | Your assessable income includes an amount for replacement live stock you breed |
| 385-120 | Purchase price of replacement live stock is reduced |
| 385-125 | Alternative election because of bovine tuberculosis has effect over 10 years not 5 |
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