Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 832.60

    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.