Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:5_52
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 5 cl 52
Character Range: 570226–570762

52  Before subsection 32(1)
Insert:

 (1A) This section does not apply to the valuation of live stock at the end of the 1997-98 year of income or at the end of a later year of income.

Note: Section 70‑45 (Value of trading stock at end of income year) of the Income Tax Assessment Act 1997 applies to the valuation of live stock at the end of those years of income. Section 70‑60 (Valuation of horse breeding stock) of the Income Tax Assessment Act 1997 also applies to the valuation of horse breeding stock at the end of those years.