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INCOME TAX ASSESSMENT ACT 1997 - SECT 420.25 Assessable income on disposal of registered emissions units

INCOME TAX ASSESSMENT ACT 1997 - SECT 420.25

Assessable income on disposal of registered emissions units

  (1)   Your assessable income includes an amount that you are entitled to receive because you cease to * hold a * registered emissions unit.

Timing

  (2)   The amount is included in your assessable income for the income year in which you cease to * hold the unit.

Source

  (3)   An amount included in your assessable income under subsection   (1) is taken, for the purposes of the * income tax laws, to have a source in Australia.

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