Document ID: chunk:federal_register_of_legislation:C2010C00584:clause:10_220
Version: federal_register_of_legislation:C2010C00584
Segment Type: clause
Provision Reference: sch 10 cl 220
Character Range: 145175–145965

220  Subsection 995‑1(1)
Insert:

value:
 (a) the value of the liabilities of a *life insurance company under the *risk components of *life insurance policies means the value worked out under section 320‑85; and
 (b) the value of an item of *trading stock has the meaning given by Subdivision 70‑C; and

Note 1: For the value of trading stock at the start of the 1997‑98 income year, see section 70‑40 of the Income Tax (Transitional Provisions) Act 1997.

Note 2: For the value of oysters acquired by using the traditional stick farming method and held as trading stock at the start of the 2001‑2002 income year, see section 70‑41 of the Income Tax (Transitional Provisions) Act 1997.
 (c) the value of the *business *supplies of an entity has the meaning given by subsection 960‑345(2).