INCOME TAX ASSESSMENT ACT 1997 - SECT 70.95 Purchase price is taken to be market value
INCOME TAX ASSESSMENT ACT 1997 - SECT 70.95
Purchase price is taken to be market value If an entity disposes of an item of the entity's *
trading stock outside the ordinary course of * business, the entity acquiring
the item is treated as having bought it for the amount included in the
disposing entity's assessable income under section 70 - 90.