INCOME TAX ASSESSMENT ACT 1936 - SECT 159GY Effect of Division where qualifying security is trading stock
INCOME TAX ASSESSMENT ACT 1936 - SECT 159GY
Effect of Division where qualifying security is trading stockNo amount shall be included in, or allowable as a deduction from, the assessable income of a taxpayer:
(a) under section 159GQ in relation to a qualifying security in respect of any year or part of a year of income during which the qualifying security forms part of the trading stock of the taxpayer; or
(c) under section 159GS in relation to the transfer of a
qualifying security by the taxpayer where, immediately before the transfer,
the qualifying security was or formed part of the trading stock of the
taxpayer.