Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.625

This Subdivision sets out the methods of calculating the average values for the purposes of this Division. It also includes special rules about values and valuation that are relevant to that calculation.

Note:   Section   820 - 25 of the Income Tax (Transitional Provisions) Act 1997 provides for a transitional rule that affects the operation of this Subdivision in relation to an income year that begins before 1   July 2002 and ends before 30   June 2003.

Table of sections

How to calculate the average values

820 - 630   Methods of calculating average values

820 - 635   The opening and closing balances method

820 - 640   The 3 measurement days method

820 - 645   The frequent measurement method

Special rules about values and valuation

820 - 675   Amount to be expressed in Australian currency

820 - 680   Valuation of assets, liabilities and equity capital

820 - 682   Recognition of assets and liabilities--modifying application of accounting standards

820 - 685   Valuation of debt capital

820 - 690   Commissioner's power