Commentary on Sections Overview Overview Section 163: Meaning of “trading stock”
607.This section defines trading stock. It is based on sections 100 and 101 of ICTA. The corresponding rule for income tax is in section 174 of ITTOIA.
608.The definition of trading stock applies:
	in section 151 (sound recordings);
	in this Chapter;
	in section 185 (adjustment on change of basis); and
	in section 195 (post-cessation receipts).
609.Section 101(3) of ICTA is invoked by section 100(2) of that Act and is concerned with valuation of incomplete services “at the discontinuance”. So the definition in this section refers to incomplete services “at the time of the cessation”.