trading stock means assets owned by a person that are sold or intended to be sold in the ordinary course of a business of the person, work in progress on such assets and inventories of materials to be incorporated into such assets and includes, in the case of a person carrying on a banking business, loans made in the ordinary course of that business;
trading stock means a motor vehicle offered or exposed for sale by a licensed vehicle dealer in the course of the dealer’s business.
trading stock means “property that a person who owns or carries on a business has for the purpose of selling or exchanging in the ordinary course of the business.” Income Tax Act 2007 s EB 2(1), https://perma.cc/3248-KNWH.
More Definitions of trading stock
trading stock means; (Sec. 195)
trading stock. , in relation to any business, means anything produced, manufactured, purchased or otherwise acquired for the purposes of manufacture, sale or exchange including uncompleted work on hand or in progress, or the proceeds from the disposal of which form, or will form, part of the assessable income of such business;
trading stock means stocks of consumables, inventory, raw materials and packaging
trading stock means property that a person who owns or carries on a business has for the purpose of selling or exchanging in the ordinary course of the business.Inclusions
trading stock. , in relation to any trade, means any property of any description whether real or personal being either—
trading stock means assets owned by a person that are sold or intended to be sold in the ordinary course of a business of the person, work in progress on the assets, inventories of materials to be incorporated into the assets and consumable stores;
trading stock means assets owned by a person that are sold or intended to be sold in the ordinary course of a business conducted by the person, work in progress on such assets, and inventories of materials to be incorporated into such assets. (2) Where an asset owned by a person has been used by the person in a particular manner, including where it is used in the production of the person's income from a business or investment, but the asset is in temporary disuse, the asset is treated as used in the particular manner during the period of disuse. Section 77. Acquisition and Ownership of Assets