Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1209b
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1209B
Character Range: 2622548–2623452

1209B  Net income from a primary production enterprise—treatment of trading stock
 (1) For the purposes of this Division, if:
 (a) an entity carries on a primary production enterprise; and
 (b) the value of all the trading stock on hand at the end of a tax year is greater than the value of all the trading stock on hand at the beginning of that tax year;
the entity's income for that tax year in the form of profits from the enterprise is to include the amount of the difference in values.
 (2) For the purposes of this Division, if:
 (a) an entity carries on a primary production enterprise; and
 (b) the value of all the trading stock on hand at the end of a tax year is less than the value of all the trading stock on hand at the beginning of that tax year;
the entity's income for that tax year in the form of profits from the enterprise is to be reduced by the amount of the difference in values.