New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)
Schedule 2 Consolidation: miscellaneous changes to asset cost provisions
Income Tax Assessment Act 1997
1 At the end of subsection 701-25(4)
Add:
Note: As a consequence of fixing the trading stock's value at the end of the income year under this subsection, no election would be available under section 70-45 to value the trading stock at that time.
Note: The heading to subsection 701-25(4) is altered by omitting "cost" and substituting "value".
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