INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Income or money shall be deemed to have been derived by a person although it is not actually paid over to him but is reinvested, accumulated, capitalized, carried to any reserve, sinking fund or insurance fund however designated, or otherwise dealt with on his behalf or as he directs.19(2) [No operation from 1997/98 year onwards]
This section does not apply to the 1997-98 year of income or a later year of income.
Subsections 6-5(4) and 6-10(3) of the Income Tax Assessment Act 1997 treat an entity as having received an amount if the amount has been applied or dealt with on the entity's behalf in the 1997-98 year of income or later years of income.
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