Section EC 23 — Income Tax Act 2007: Determining national standard costs

EC 23 Determining national standard costs Determination of costs (1) The Commissioner must determine national standard costs for each category of specified livestock in schedule 18 (Categories of livestock for which national standard costs to be declared). The determination must take into account, as applicable,— (a) the average breeding, rearing, and growing costs for animals in the category; and (b) the average rearing and growing costs for animals in the category. Application to income year (2) The national standard costs apply to the income year for which they are determined, whether the income year started before, on, or after the date on which the determination is made. Defined in this Act: Commissioner , income year , specified livestock , Compare: 2004 No 35 s EC 23