B2.608 Work In Progress

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Commentary

Business tax

Work in progress is not clearly defined in the legislation, although some clarification is given in connection with the valuation of work in progress on the discontinuance of a profession or vocation¹. In practice² the term applies to the following uncompleted items:

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•�� manufactured products
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•�� contracts for services; and
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•�� construction contracts

Manufactured

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E5.607 Corporate members

E4.507S Operation of the charge on securities with artificially enhanced market value

I4.265 Lifetime transfers reported late

I7.333A Companies and replacement APR property

B3.325 General exclusions—first-year qualifying expenditure

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