Timing and quantifying rules - Valuation of trading stock (including dealer’s livestock)
EB 24: Apportionment on disposal of business assets that include trading stock
You could also call this:
“Law about dividing money from selling business items, including stock, has been removed”
This law, called ‘Apportionment on disposal of business assets that include trading stock’, was part of the Income Tax Act 2007. However, it has been removed from the law. This means it no longer applies. The law was taken out on 1 April 2024. This change was made by another law called the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024.
