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Income Tax Act 2007

Timing and quantifying rules - Valuation of trading stock (including dealer’s livestock)

EB 1: When this subpart applies

You could also call this:

“This subpart applies to businesses with trading stock”

This part of the law applies to you if you own or run a business and have trading stock. Trading stock means items that you intend to sell or exchange as part of your normal business activities. For example, if you have a shop, the products you sell would be your trading stock. This rule helps determine how to handle your trading stock for tax purposes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514282.

Topics:
Money and consumer rights > Taxes
Business > Industry rules
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EB 2: Meaning of trading stock, or

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Part E Timing and quantifying rules
Valuation of trading stock (including dealer’s livestock)

EB 1When this subpart applies

  1. This subpart applies when a person who owns or carries on a business has trading stock for the purpose of selling or exchanging it in the ordinary course of the business.

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