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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 70.1

Application of Division 70 of the Income Tax Assessment Act 1997

             (1)  Division 70 (Trading stock) of the Income Tax Assessment Act 1997 applies to assessments for the 1997-98 income year and later income years.

             (2)  However, the sections of that Division listed in the table apply in accordance with the corresponding sections of this Act.

 

Application provisions for specific sections


Item

This section of the Income Tax Assessment Act 1997 ...

Applies as described in this provision of this Act ...

1

70-20

70-20

2

70-55

70-55(1)

3

70-70

70-70

4

70-90

70-90

5

70-95

70-90

6

70-100

70-100

7

70-105

70-105

8

70-115

70-115


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