Commentary on Sections Overview Overview Section 189: Meaning of “qualifying trade”
630.This section gives the meaning of “qualifying trade”. It is based on sections 297(2) and (8) and 298(3) and (5) of ICTA.
631.The wording of subsection (1)(b) is more compact than section 297(2) of ICTA. The comparable wording is that the trade must not “consist of one or more of the following activities if that activity amounts, or those activities when taken together amount, to a substantial part of the trade”.
632.Excluded activities referred to in this subsection are set out in section 192.
633.Subsection (2) excepts references to a trade in certain sections in this Chapter from the extended meaning of “trade” in section 989, based on the definition in section 832(1) of ICTA.