Ostriches and emus are livestock within definition of "non-specified livestock"; value of non-specified livestock at option of taxpayer; options either market price, replacement price, standard value or cost price.
This issues paper resulted in the following interpretation statement:
Ostriches and emus – valuation for income tax purposes Tax Information Bulletin Vol 9, No 8: 11 (August 1997)
About issues papers
Inland Revenue’s Tax Counsel Office (Public Advice and Guidance) develops and publishes public statements interpreting the tax laws.
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