Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 70.85

Application of this Subdivision to certain other assets

                   This Subdivision (except section 70- 115) applies to certain assets of a * business as if they were * trading stock on hand of the entity that carries on that business. The assets are:

                     (a)  standing or growing crops; and

                     (b)  crop-stools; and

                     (c)  trees planted and tended for sale.

Note:          Section 70- 115 assesses insurance or indemnity amounts for lost trading stock.



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