Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-42 - PERSONAL SERVICES INCOME  

Division 86 - Alienation of personal services income  

Subdivision 86-A - General  

SECTION 86-30  

86-30   Assessable income etc. of the personal services entity  

* Ordinary income or * statutory income of the * personal services entity is neither assessable income nor * exempt income of the entity, to the extent that it is * personal services income included in your assessable income under section 86-15 .

Note:

Subsection 118-20(4) prevents this income being treated as a capital gain.