Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 70.115

    Section   70 - 115 (Compensation for lost trading stock) of the Income Tax Assessment Act 1997 applies to an amount received in the 1997 - 98 income year or a later income year by way of insurance or indemnity for a loss of trading stock, even if the loss occurred earlier. However, that section does not apply to an amount that is assessable income for an income year before the 1997 - 98 income year.

Table of Subdivisions

82 - A   Application of Division

82 - B   Transitional termination payments: general

82 - C   Pre - payment statements

82 - D   Directed termination payments made to superannuation and other entities

82 - E   Pre - 10   May 2006 entitlements and employment termination payments made after 1   July 2012

Table of sections

82 - 10   Pre - 10   May 2006 entitlements-- transitional termination payments