Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 2   Taxation amendments

Part 2   Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences

Income Tax Assessment Act 1997

13   At the end of section 70-110 (after example 2, before the note)

Add:

(2) This section does not apply if:

(a) you stop holding an item as*trading stock; and

(b) immediately after you stopped holding the item as trading stock, you start to*hold the item as a*registered emissions unit.