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INCOME TAX ASSESSMENT ACT 1997 - SECT 11.55

List of non-assessable non-exempt income provisions

                   The provisions set out in the list make amounts non-assessable non-exempt income.

                   Provisions of the Income Tax Assessment Act 1997 are identified in normal text. The other provisions, in bold , are provisions of the Income Tax Assessment Act 1936 .

 

alienated personal services income

 

associate, non-deductible payment or obligation to............

85-20(3)

entitlements to a share of net income that is personal services income already assessable to an
individual...............................................................................



86-35(2)

payments by personal services entity or associate of personal services income already assessable to an individual...............................................................................



86-35(1)

personal services entity, amounts of personal services income assessable to an individual..................................


86-30

bonds

 

see securities

 

capital gains tax

 

small business retirement exemption, payments made directly or indirectly to CGT concession stakeholder so company or trust complies with section 152- 325..........




152-310

demutualisation of friendly society health or life insurers

 

amounts related to issue, or transfer from lost policy holders trust, of demutualisation assets...........................


316-255

payments received directly, or from lost policy holders trust, in exchange for cancellation or variation of interests under the demutualisation..................................



316-255

demutualisation of private health insurers

 

market value of shares and rights at time of issue...............

315-310

payments received in exchange for cancellation or variation of interests under the demutualisation...........


315-310

dividends

 

demerger dividends....................................................................

44(4)

later dividend set off against amount taken to be dividend.................................................................................

109ZC(3), 109ZCA(4)

employment

 

early retirement scheme payment, tax free amount of .....

83-170

employment termination payment ........................................

82-10
82-65
82-70

foreign termination payment ..................................................

83-235
83-240

genuine redundancy payment, tax free amount of ............

83-170

unused long service leave payment, pre-16/8/78
period ....................................................................................


83-80

see superannuation and sections 82-10A and 82-10C of the Income Tax (Transitional Provisions) Act 1997

 

environment

 

water infrastructure improvement payments.......................

59-65

farm-in farm-out arrangements

 

rewards for providing exploration benefits ............................

40-1135

financial arrangements

 

gains related to non-assessable non-exempt income..........

230-30

firearms surrender arrangements

 

compensation under..................................................................

59-10

foreign aspects of income taxation

 

attributed controlled foreign company income, amounts paid out of ............................................................................


23AI

attributed foreign investment fund income, amounts paid out of .....................................................................................


23AK

certain forex realisation gains..................................................

775-25

branch profits of Australian companies................................

23AH

distributions of conduit foreign income.................................

802-20

income derived by foreign residents in exclusive economic zone or on or above continental shelf ..............................

768-110

foreign equity distributions on participation interests..........

768-5

income derived by temporary residents.................................

768-910

interest paid by temporary residents.......................................

768-980

managed investment trust withholding tax, amount subject to ..............................................................................


840-815

Seasonal Labour Mobility Program withholding tax, amount subject to ...............................................................


840-915

superannuation fund, foreign, interest and dividend income of .............................................................................


128B(3)(jb)

withholding tax, dividend royalty or interest subject to......

128D

GST

 

GST payable on a taxable supply...........................................

17-5(a)

increasing adjustments..............................................................

17-5(b) and (c)

investment manager regime

 

IMR concessions........................................................................

842-215

life insurance companies .....................................................................

Subdivision 320-B

mining

 

withholding tax, payments to Indigenous persons and distributing bodies subject to.............................................


59-15

mutual receipts

 

amounts that would be mutual receipts but for prohibition on distributions to members...............................................


59-35

National Rental Affordability Scheme

 

payments made, and non-cash benefits provided, by a State or Territory governmental body in relation to participation in the National Rental Affordability Scheme..................................................................................




380-35

native title benefits

 

native title benefits.....................................................................

59-50

non-cash benefits

 

fringe benefits.............................................................................

23L(1)

notional sale and loan

 

arrangement payments a notional seller receives or is entitled to receive.................................................................


240-40

luxury car leases, lease payments that the lessor receives or is entitled to receive.........................................................


242-40

deemed loan treatment for financial benefits provided for tax preferred use of asset...................................................


250-160

offshore banking units

 

assessable OB income other than eligible fraction...............

121EG

related entities

 

amounts from, where deduction reduced for........................

26-35(4)

repayable amounts

 

previously assessable amounts................................................

59-30

rights to acquire shares or units

 

market value of at time of issue..............................................

59-40

small business assets

 

income arising from CGT event, company or trust owned asset continuously for 15 years.........................................


152-110(2)

superannuation

 

benefits generally ......................................................................

Divisions 301 to 306

commutation of income stream, under 25 years ................

303-5

death benefits ............................................................................

302-60
302-65
302-70
302-140

departing Australia superannuation benefits .......................

301-175

foreign superannuation funds, lump sum benefits .............

305-60
305-65
305-70

KiwiSaver schemes, contributions to complying superannuation funds from ..............................................


312-10

KiwiSaver schemes, superannuation benefits paid from complying superannuation funds to ...............................


312-15

member benefits ........................................................................

301-10
301-15
301-30
301-225

release authorities, payments from ........................................

303-15

303-17

303-20

304-15

roll-over superannuation benefits ..........................................

306-5

superannuation lump sum for recipient having terminal medical condition ...............................................................


303-10

unclaimed money payment ....................................................

306-20

tax loss transfers

 

consideration received by loss company from income company, generally.............................................................


170-25(1)

consideration received by loss company from income company, net capital loss...................................................


170-125(1)

temporary residents

 

see foreign aspects of income taxation

 

trading stock

 

disposal outside ordinary course of business, amounts received upon.......................................................................


70-90(2)

trusts

 

attributable income, amounts representing...........................

99B(2A)

family trust distribution tax, amounts subject to.................

271-105(3) in Schedule 2F

windfall amounts

 

business franchise fees, refund of when invalid...................

59-20

State tax on Commonwealth place, refund of when invalid ....................................................................................


59-25

withholding taxes

 

see foreign aspects of income taxation and mining

 



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