Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 70.25

Cost of trading stock is not a capital outgoing

    An outgoing you incur in connection with acquiring an item of * trading stock is not an outgoing of capital or of a capital nature.

Note:   This means that paragraph   8 - 1(2)(a) does not prevent the outgoing from being a general deduction under section   8 - 1.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback