INCOME TAX ASSESSMENT ACT 1975

Table of Provisions

• 1 Short title.  
• 2 Commence- ment.  
• 3 Interpretation.  
• 4 Continental shelf to be treated as part of Australia for certain purposes.  
• 5 Extension of Act to Papua New Guinea.  
• 6 Officers to observe secrecy.  
• 7 Exemptions.  
• 8  
• 9 Exemption of certain income from sale of gold.  
• 10 Assessable income to include net stand-by value of car made available to employee for private use.  
• 11 Insurance recoveries in respect of losses of live stock and trees.  
• 12 Disposal of trading stock.  
• 13 Alternative election in respect of income resulting from forced disposal of live stock.  
• 14 Compensation for death or compulsory destruction of live stock.  
• 15 Dividends.  
• 16 Certain dividends paid by companies incorporated in Papua New Guinea.  
• 17 Credit in respect of tax paid abroad on ex-Australian dividends.  
• 18 Rebate on dividends.  
• 19 Rebate on dividends paid as part of dividend stripping operation.  
• 20  
• 21 Rates and taxes.  
• 22 Expenditure on scientific research.  
• 23 Certain expenditure on land used for primary production.  
• 24 Deduction of certain expenditure on land used for primary production.  
• 25 Loss in deriving exempt income.  
• 26 Gifts, calls on afforestation shares, pensions, &c.  
• 27 Deductions for members of Defence Force serving overseas.  
• 28 Losses of previous years.  
• 29 Interpretation.  
• 30 Definition.  
• 31 Housekeeper.  
• 32 Interpretation.  
• 33 Prescribed dividends.  
• 34 Interpretation.  
• 35 Application of Division.  
• 36 Interpretation.  
• 37 Division not to apply to certain interest.  
• 38 Interpretation.  
• 39 Liability to withholding tax.  
• 40 Certain income not included in assessable income.  
• 41  
• 42 Income derived by non-resident insurer.  
• 43 Application of Division to primary producers.  
• 44  
• 45 Definitions.  
• 46 Determination of claims for credits.  
• 47 Application of credits.  
• 48 Liability to pay instalments of tax.  
• 49 When instalment of tax payable.  
• 50 Interpretation.  
• 51 Interpretation.  
• 52 Territories.  
• 53 Schedule 2.  
• 54 Transitional provisions relating to Papua New Guinea.