Statute
Section EB 4 — Income Tax Act 2007: Trading stock valuation methods
Text of the provision Official document
EB 4 Trading stock valuation methods Standard valuation (1) The standard valuation methods for trading stock are— (a) cost: (b) discounted selling price: (c) replacement price: (d) market selling value. Low-turnover valuation (2) A person who is a low-turnover trader may value closing stock by a method described in section EB 14 . Low value trading stock (3) In certain circumstances, a person may value closing stock under section EB 23 . Defined in this Act: closing stock , cost , low-turnover trader , , trading stock Compare: 2004 No 35 s EB 4
Official source: legislation.govt.nz
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