New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)
Schedule 25 Value shifting
Income Tax Assessment Act 1997
8 After subsection 727-715(3)
Insert:
(3A) If at the time referred to in subsection (3) a *primary interest covered by that subsection was *trading stock or a *revenue asset, its *adjustable value taken into account under that subsection is the greater of its adjustable value as a *CGT asset and its adjustable value as trading stock or a revenue asset.
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