Page 9 - P6 Slide Taxation - Lecture Day 5 - Trading stock

Anti-avoidance

• The anti-avoidance rules in section 23F is

aimed at schemes where taxpayers purchase

trading stock (and claim the 11(a) deduction),

but then ensure that the trading stock is not

on hand at year-end (and therefore have no

inclusion) and that it is not included in gross

income due to the sale thereof.

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