8.02B
CurrentAsset must be valued at market value
Volume 1Parts 1 to 14 (regulations 1.01 to 14.39)
Part 8Financial reporting
8.02B Asset must be valued at market value
For subsection 35B(2) of the Act, for the year of income 2012–13 and any later year of income, when preparing accounts and statements required by subsection 35B(1) of the Act, an asset must be valued at its market value.
Note:
Market value is defined in subsection 10(1) of the Act.
This Act’s bill:Explanatory statement
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