Private ruling: Am I in Business - Bio-Banking Credits
Date of advice: 5 September 2017
Published: November 2017

Ruling: A1: The Commissioner has ruled on each of the specific questions and confirmed the activities would be considered to be carrying on a business and the trading stock provisions would apply.




Subject: Am I in Business - Bio-Banking Credits: In order to protect the privacy and commercial in-confidence of this private ruling the following summary is provided. | Issue: This ruling concerned whether the bio-banking activities conducted by the taxpayer would be considered to be carrying on a business and whether the trading stock provisions of Division 70 of the Income Tax Assessment Act 1997 apply to the activity.