Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:5_49
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 5 cl 49
Character Range: 568887–569447

49  At the end of section 29
Add:

 (2) This section does not apply to the valuation of live stock or other trading stock at the beginning of the 1997-98 year of income or at the beginning of a later year of income.

Note: Section 70‑40 (Value of trading stock at start of income year) of the Income Tax Assessment Act 1997 applies to the valuation of trading stock at the beginning of those years of income. Section 70‑40 (Value of trading stock at the start of the 1997‑98 income year) of the Income Tax (Transitional Provisions) Act 1997 is also relevant.