Income Tax Assessment Regulations 1997 (Repealed)

PART 2 - LIABILITY RULES OF GENERAL APPLICATION  

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Part 2 heading inserted by SR No 172 of 2002.

Division 70 - Trading stock  

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Division 70 inserted by SR No 172 of 2002.

REGULATION 70-55.01  

70-55.01   COST OF NATURAL INCREASE OF LIVE STOCK - PARAGRAPH 70-55(1)(b) OF ACT  
For paragraph 70-55(1)(b) of the Act, the cost prescribed for each animal in a class of live stock set out in column 1 of the following table is the amount applicable to that class in column 2 of the table.

Column 1 Class of live stock	Column 2 Cost $
cattle	20.00
deer	20.00
emus	8.00
goats	4.00
horses	20.00
pigs	12.00
poultry	0.35
sheep	4.00

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Reg 70-55.01 amended by SLI No 156 of 2015, reg 4 and Sch 1 item 2, by repealing the note, applicable in relation to the 2015-16 year of income and later years of income. The note formerly read:

Note:

For the cost prescribed for natural increase occurring before the 1997-98 year of income, see subregulation 10(3) of the Income Tax Regulations.

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