Income Tax Assessment Act 1997
View history note
Hide history noteThe FIFO cost method for working out the *value of the *registered emissions units you *held at the end of an income year means that the value of the units is the *cost of the registered emissions units, and, for the purposes of the application of this Subdivision to you for the income year: (a) if any of the registered emissions units are:
(i) (Repealed by No 83 of 2014)
(ii) eligible international emissions units (within the meaning of the Australian National Registry of Emissions Units Act 2011 ); or
(iii) *Australian carbon credit units; or
you must account for those units on a first-in first-out basis; and
(iv) *safeguard mechanism credit units;
(b) (Repealed by No 83 of 2014) (c) if any of the registered emissions units are *Kyoto units that are not eligible international emissions units (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) - you must account for those units on a first-in first-out basis.
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