Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 397

    When applying this Act and the Income Tax Assessment Act 1997 in calculating the attributable income of the eligible CFC:

  (a)   Subdivision   B of Division   2 of Part   III of this Act has effect as if the value of any article of trading stock to be taken into account at the beginning or end of a year of income were its cost price; and

  (b)   Division   70 of the Income Tax Assessment Act 1997 has effect as if the value of any item of trading stock to be taken into account at the beginning or end of an income year were its cost.