Commonwealth Consolidated Acts Commonwealth Consolidated ActsYou can elect to exclude from your assessable income the profit on a forced disposal or death of live stock that you held as assets of a primary production business you carry on in Australia.
The excluded profit is then brought into your assessable income over a 5 year period in one of 2 ways.
Table of sections
385‑ 95 Basic principles for elections under this Subdivision
Operative provisions
385‑100 Cases where you can make an election
385‑105 Election to spread tax profit over 5 years
385‑110 Alternative election to defer tax profit and reduce cost of replacement live stock
385‑115 Your assessable income includes an amount for replacement live stock you breed
385‑120 Purchase price of replacement live stock is reduced
385‑125 Alternative election because of bovine tuberculosis has effect over 10 years not 5
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