Document ID: chunk:federal_register_of_legislation:C2025C00014:section:397
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 397
Character Range: 1988659–1989241

397  Modified application of trading stock provisions
  When applying this Act and the Income Tax Assessment Act 1997 in calculating the attributable income of the eligible CFC:
 (a) Subdivision B of Division 2 of Part III of this Act has effect as if the value of any article of trading stock to be taken into account at the beginning or end of a year of income were its cost price; and
 (b) Division 70 of the Income Tax Assessment Act 1997 has effect as if the value of any item of trading stock to be taken into account at the beginning or end of an income year were its cost.