INCOME TAX ASSESSMENT ACT 1936 - SECT 128D Certain income not assessable
INCOME TAX ASSESSMENT ACT 1936 - SECT 128D
Certain income not assessableIncome other than income to which section 128B applies by virtue of subsection (2A), (2C) or (9C) of that section upon which withholding tax is payable, or upon which withholding tax would, but for paragraph 128B(3)(ga), (jb) or (m), section 128F, section 128FA or section 128GB, be payable, is not assessable income and is not exempt income of a person.
Note: An amount of interest paid to a person by a temporary resident is
non - assessable non - exempt income: see section 768 - 980 of the
Income Tax Assessment Act 1997 .