INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAY Modified application of trading stock provisions
INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAY
Modified application of trading stock provisions When applying this Act and the Income Tax Assessment Act 1997 in
calculating the attributable income of the trust estate, Division 70 of
the Income Tax Assessment Act 1997 has effect as if the cost of the item of
trading stock were the value to be taken into account at the start of the
year of income.