Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 832.60

Valuation of trading stock affected by hybrid mismatch rules

                   If:

                     (a)  an amount of a deduction for an outgoing is disallowed under this Division; and

                     (b)  the outgoing was incurred in connection with acquiring an item of * trading stock; and

                     (c)  the item is on hand at the end of an income year;

the amount disallowed is to be disregarded in working out the * cost, market selling value or replacement value of the item at the end of the income year under section 70- 45.

Guide to Subdivision 832-B



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