A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-25 - TRADING STOCK    View history reference

Division 70 - Trading stock    View history reference

Subdivision 70-B - Acquiring trading stock    View history reference

SECTION 70-25  

70-25  Cost of trading stock is not a capital outgoing  

 View history reference ITAA 36
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.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page