Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Division 70 (Trading stock) of the Income Tax Assessment Act 1997 applies to assessments for the 1997 - 98 income year and later income years.
(2) However, the sections of that Division listed in the table apply in accordance with the corresponding sections of this Act.
Application provisions for specific sections | ||
| This section of the Income Tax Assessment Act 1997 ... | Applies as described in this provision of this Act ... |
1 | 70 - 20 | 70 - 20 |
2 | 70 - 55 | 70 - 55(1) |
3 | 70 - 70 | 70 - 70 |
4 | 70 - 90 | 70 - 90 |
5 | 70 - 95 | 70 - 90 |
6 | 70 - 100 | 70 - 100 |
7 | 70 - 105 | 70 - 105 |
8 | 70 - 115 | 70 - 115 |