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EB 23: Valuing closing stock under $10,000
or “Simplified valuation method for small businesses with low-value 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.

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Next up: EC 1: Application of this subpart

or “This section explains when and how the livestock valuation rules apply to businesses”
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Part E Timing and quantifying rules
Valuation of trading stock (including dealer’s livestock)

EB 24Apportionment on disposal of business assets that include trading stock (Repealed)

    Notes
    • Section EB 24: repealed, on , by section 54 of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).