Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The cost of an animal you hold as * live stock that you acquired by natural increase is whichever of these you elect:
(a) the actual cost of the animal;
(b) the cost prescribed by the regulations for each animal in the applicable class of live stock.
(2) However, if you incur a service fee for insemination and, as a result, acquire a horse by natural increase, its cost is the greater of:
(a) the amount worked out under subsection (1); and
(b) the part of the service fee that is attributable to your acquiring the horse.
(3) An election under this section must be made by the time you lodge your * income tax return for the income year in which you acquired the animal. However, the Commissioner can allow you to make it later.