New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

297   Subsection 124-80(2)

Repeal the subsection, substitute:

(2) The other asset cannot become an item of your *trading stock just after you *acquire it, nor can it be a *depreciating asset.


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