Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsections (2) and (3), this section applies to:
(a) income derived (otherwise than as a trustee) from sources in a prescribed Territory by a person who is a Territory resident;
(b) income derived (otherwise than as a trustee) from sources in a prescribed Territory by a company that is a Territory company in relation to the year of income;
(c) income derived from sources in a prescribed Territory by a trustee of a trust that is a Territory trust in relation to the year of income;
(d) income derived from sources in a prescribed Territory by a trustee of a trust, being income to which a beneficiary who is under a legal disability and is a Territory resident is presently entitled; and
(e) income derived by a person from an office or employment the duties of which are wholly or mainly performed in a prescribed Territory, if the Commissioner is satisfied that, at the time when the person commenced to perform duties of that office or employment in that Territory, he intended to remain in that Territory for a continuous period of more than 6 months.
(2) Subject to subsection (3), this section does not apply to income if the Commissioner is satisfied that the income has been, or may be, applied for the benefit of a person not being a Territory resident, or for the benefit of a company not being a Territory company in relation to the year of income of the company in which the income has been or may be applied.
(3) Subsection (2) does not exclude the operation of this section in relation to any income if the Commissioner is satisfied that the application of the income as mentioned in that subsection resulted, or would result, from an agreement or transaction that was a genuine commercial or family dealing and was not entered into or effected for the purpose, or for purposes that included the purpose, of avoiding liability to taxation.
(4) Income to which this section applies is exempt from income tax.