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INCOME TAX ASSESSMENT ACT 1936

Table of Provisions

PART I--PRELIMINARY

PART II--ADMINISTRATION

PART III--LIABILITY--TO TAXATION

DIVISION 1--General
  • 18 Accounting period  
  • 18A Accounting periods for VCLPs, ESVCLPs, AFOFs and VCMPs  
  • 21 Where consideration not in cash  
  • 21A Non-cash business benefits  
  • 23AA Income of persons connected with certain projects of United States Government  
  • 23AB Income of certain persons serving with an armed force under the control of the United Nations  
  • 23AD Exemption of pay and allowances of Defence Force members performing certain overseas duty  
  • 23AF Exemption of certain income derived in respect of approved overseas projects  
  • 23AG Exemption of income earned in overseas employment  
  • 23AH Foreign branch income of Australian companies not assessable  
  • 23AI Amounts paid out of attributed income not assessable  
  • 23AK Amounts paid out of attributed foreign investment fund income not assessable  
  • 23B Reduction of disposal consideration if FIF attributed income not distributed  
  • 23G Exemption of interest received by credit unions  
  • 23K Substitution of certain securities  
  • 23L Certain benefits in the nature of income not assessable  
  • DIVISION 1AB--Certain State/Territory bodies exempt from income tax
  • 24AK Key principle  
  • 24AL Diagram--guide to work out if body is exempt under this Division  
  • 24AM Certain STBs exempt from tax  
  • 24AN Certain STBs not exempt from tax under this Division  
  • 24AO First way in which a body can be an STB  
  • 24AP Second way in which a body can be an STB  
  • 24AQ Third way in which a body can be an STB  
  • 24AR Fourth way in which a body can be an STB  
  • 24AS Fifth way in which a body can be an STB  
  • 24AT What doandmean?  
  • 24AU Governor, Minister and Department Head taken to be a government entity  
  • 24AV Regulations prescribing excluded STBs  
  • 24AW Body ceasing to be an STB  
  • 24AX Special provisions relating to capital gains and losses  
  • 24AY Losses from STB years not carried forward  
  • 24AYA Effect of unfunded superannuation liabilities  
  • 24AZ Meaning ofand  
  • DIVISION 2--Income
  • 25A Assessable income to include certain profits  
  • 26AB Assessable income--premium for lease  
  • 26AF Assessable income to include value of benefits received from or in connection with former paragraph 23(ja) funds or former section 23FB funds  
  • 26AFA Assessable income to include value of certain benefits received from or in connection with former section 23F funds  
  • 26AG Certain film proceeds included in assessable income  
  • 26AH Bonuses and other amounts received in respect of certain short-term life assurance policies  
  • 26AJ Investment-related lottery winnings to be included in assessable income  
  • 26BB Assessability of gain on disposal or redemption of traditional securities  
  • 26BC Securities lending arrangements  
  • 26E Income from RSAs  
  • 27H Assessable income to include annuities and superannuation pensions  
  • 43A Subdivision has effect subject to provisions of Division 216 of the  
  • 43B Application of Subdivision to non-share dividends  
  • 44 Dividends  
  • 45 Streaming of bonus shares and unfranked dividends  
  • 45A Streaming of dividends and capital benefits  
  • 45B Schemes to provide certain benefits  
  • 45BA Effect of determinations under section 45B for demerger benefits  
  • 45C Effect of determinations under sections 45A and 45B for capital benefits  
  • 45D Determinations under sections 45A, 45B and 45C  
  • 46FA Deduction for dividends on-paid to non-resident owner  
  • 46FB Unfranked non-portfolio dividend account  
  • 47 Distributions by liquidator  
  • 47A Distribution benefits--CFCs  
  • DIVISION 3--Deductions
  • 51AAA Deductions not allowable in certain circumstances  
  • 51AD Deductions not allowable in respect of property used under certain leveraged arrangements  
  • 51AEA Meal entertainment--election under section 37AA ofto use 50/50 split method  
  • 51AEB Meal entertainment--election under section 37CA ofto use the 12 week register method  
  • 51AEC Entertainment facility--election under section 152B ofto use 50/50 split method  
  • 51AF Car expenses incurred by employee  
  • 51AGA No deduction to employee for certain car parking expenses  
  • 51AH Deductions not allowable where expenses incurred by employee are reimbursed  
  • 51AJ Deductions not allowable for private component of contributions for fringe benefits etc.  
  • 51AK Agreements for the provision of non-deductible non-cash business benefits  
  • 52 Loss on property acquired for profit-making  
  • 52A Certain amounts disregarded in ascertaining taxable income  
  • 63 Bad debts  
  • 63D Bad debts etc. of money-lenders not allowable deductions where attributable to listed country or unlisted country branches  
  • 63E Debt/equity swaps  
  • 63F Limit on deductions where debt write offs and debt/equity swaps occur  
  • 63G Bad debts etc. of trust not allowable in certain circumstances  
  • 65 Payments to associated persons and relatives  
  • 70B Deduction for loss on disposal or redemption of traditional securities  
  • 73A Expenditure on scientific research  
  • 73AA Section 73A roll-over relief in the case of certain CGT roll-overs  
  • 78A Certain gifts not to be allowable deductions  

PART III--LIABILITY--TO TAXATION

DIVISION 3--Deductions

PART III--LIABILITY--TO TAXATION

DIVISION 10E--PDFs (pooled development funds)

PART IIIB--AUSTRALIAN--BRANCHES OF FOREIGN BANKS

DIVISION 1--Preliminary

PART IV--RETURNS--AND ASSESSMENTS

PART IVA--SCHEMES--TO REDUCE INCOME TAX

PART VA--TAX--FILE NUMBERS

DIVISION 1--Preliminary
  • 202 Objects of this Part  
  • 202A Interpretation  
  • 202AA Definition of  
  • 202AB Declaration that an arrangement is, or is not, a unit trust  
  • DIVISION 2--Issuing of tax file numbers
  • 202B Application for tax file number  
  • 202BA Issuing of tax file numbers  
  • 202BB Current tax file number  
  • 202BC Deemed refusal by Commissioner  
  • 202BD Interim notices  
  • 202BE Cancellation of tax file numbers  
  • 202BF Alteration of tax file numbers  
  • DIVISION 3--Quotation of tax file numbers by recipients of eligible PAYG payments
  • 202C TFN declarations by recipients of eligible PAYG payments  
  • 202CA Operation of TFN declaration  
  • 202CB Quotation of tax file number in TFN declaration  
  • 202CC Making a replacement TFN declaration in place of an ineffective declaration  
  • 202CD Sending of TFN declaration to Commissioner  
  • 202CE Effect of incorrect quotation of tax file number  
  • 202CEA Validation notices  
  • 202CF Payer must notify Commissioner if no TFN declaration by recipient  
  • 202CG Disclosing recipients' tax file numbers to payers  
  • DIVISION 4--Quotation of tax file numbers in connection with certain investments
  • 202D Explanation of terms: investment, investor, investment body  
  • 202DB Quotation of tax file numbers in connection with investments  
  • 202DC Method of quoting tax file number  
  • 202DD Investor excused from quoting tax file number in certain circumstances  
  • 202DDB Quotation of tax file number in connection with indirectly held investment  
  • 202DE Securities dealer to inform the investment body of tax file number  
  • 202DF Effect of incorrect quotation of tax file number  
  • 202DG Investments held jointly  
  • 202DH Tax file number quoted for superannuation or surcharge purposes taken to be quoted for purposes of the taxation of eligible termination payments  
  • 202DHA Tax file number quoted for Division 3 purposes taken to have been quoted for superannuation purposes  
  • 202DI Tax file number quoted for RSA purposes taken to be quoted for purposes of the taxation of superannuation benefits  
  • 202DJ Tax file number quoted for purposes of taxation of superannuation benefits taken to be quoted for surcharge purposes  
  • DIVISION 4A--Quotation of tax file numbers in connection with farm management deposits
  • 202DL Quotation of tax file number  
  • 202DM Effect of incorrect quotation of tax file number  
  • DIVISION 4B--Quotation of tax file numbers in connection with certain closely held trusts
  • 202DN Application of Division  
  • 202DO Quotation of tax file numbers  
  • 202DP Trustee must report quoted tax file numbers  
  • 202DR Effect of incorrect quotation of tax file number  
  • DIVISION 5--Exemptions
  • 202EA Persons receiving certain pensions etc.--employment  
  • 202EB Persons receiving certain pensions etc.--investments  
  • 202EC Entities not required to lodge income tax returns  
  • 202EE Non-residents  
  • 202EG Manner of completing declarations  
  • 202EH Declarations under this Division to be retained in certain circumstances  
  • DIVISION 6--Review of decisions
  • 202F Review of decisions  
  • 202FA Statements to accompany notification of decisions  
  • DIVISION 8--Tax file number sharing and verification
  • 203 Verification of tax file numbers  
  • 204 Disclosure of tax file numbers to certain registrars  

PART VIIB--MEDICARE--LEVY AND MEDICARE LEVY SURCHARGE

PART VIII--MISCELLANEOUS

  • 252 Public officer of company  
  • 252A Public officer of trust estate  
  • 253 Notifying and serving companies  
  • 254 Agents and trustees  
  • 255 Person in receipt or control of money from non-resident  
  • 257 Payment of tax by banker  
  • 260 Contracts to evade tax void  
  • 262 Periodical payments in the nature of income  
  • 262A Keeping of records  
  • 264BB Commissioner may require private health insurers to provide information  
  • 265A Release of liability of members of the Defence Force on death  
  • 265B Notices in relation to certain securities  
  • 266 Regulations  

PART X--ATTRIBUTION--OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES

DIVISION 1--Preliminary

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