‑1 What this Division is about
This Division deals with amounts you can deduct, and amounts included in your assessable income, because of these situations: • you acquire an item of trading stock; • you carry on a business and hold trading stock at the start or the end of the income year; • you dispose of an item of trading stock outside the ordinary course of business, or it ceases to be trading stock in certain other circumstances. Table of sections 70‑5 The 3 key features of tax accounting for trading stock
Sourced from the Federal Register of Legislation at 25 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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