Commonwealth Consolidated Acts Commonwealth Consolidated ActsYou can elect to exclude from your assessable income the profit on a forced disposal or death of live stock that you held as assets of a primary production business you carry on in Australia.
The excluded profit is then brought into your assessable income over a 5 year period in one of 2 ways.
Table of sections
385 - 95 Basic principles for elections under this Subdivision
Operative provisions
385 - 100 Cases where you can make an election
385 - 105 Election to spread tax profit over 5 years
385 - 110 Alternative election to defer tax profit and reduce cost of replacement live stock
385 - 115 Your assessable income includes an amount for replacement live stock you breed
385 - 120 Purchase price of replacement live stock is reduced
385 - 125 Alternative election because of bovine tuberculosis has effect over 10 years not 5