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-D - Assessable income arising from disposals of trading stock and certain other assets    View history reference

Operative provisions

SECTION 70-95  

70-95  Purchase price is taken to be market value  

 View history reference ITAA 36
If an entity disposes of an item of the entity ' s *trading stock outside the ordinary course of *business, the entity acquiring the item is treated as having bought it for the amount included in the disposing entity ' s assessable income under section 70-90 .


 



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