ITAA 1997 s 70-50

Income tax: trading stock of gold miners: what is the application of section 70-50 of the Income Tax Assessment Act 1997 to the low grade ore stocks where the notional market selling value is below cost?

Income tax: 1. are live pearl oysters (Pinctada maxima) used in a business of pearl culture, trading stock for the purposes of Income Tax Assessment Act 1936? 2. What is the value to be allocated to live pearl oysters used in a business of pearl culture pursuant to section 32?