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22 Jun 11 Horse industry: income tax issues – Addendum

On 22 June 2011 the ATO issued an Addendum to Taxation Ruling TR 2008/2 “Income tax: various income tax issues relating to the horse industry; including whether racing, training and breeding activities (carried out as stand-alone activities or in combination) amount to the carrying on of a business”: TR 2008/2A.

This Addendum amends TR 2008/2 to reflect the 2009 amendments to Division 35 ITAA 1997.