INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 16A - Abnormal income of artists, composers, inventors, performers, production associates, sportspersons and writers  

SECTION 158L  

158L   ABNORMAL INCOME  
Where:

(a) a taxpayer is a qualifying resident taxpayer in relation to a year of income (in this section called the ``current year of income'');

(b) either of the following subparagraphs applies:

(i) the eligible taxable income of the taxpayer of the current year of income exceeds $2,500;

(ii) both of the following conditions are satisfied in relation to a preceding year of income:

(A) the taxpayer was a qualifying resident taxpayer;

(B) the eligible taxable income of the taxpayer exceeded $2,500; and

(c) the eligible taxable income of the taxpayer of the current year of income exceeds the average eligible taxable income of the taxpayer of the current year of income;

the taxable income of the taxpayer of the current year of income shall be taken to include an abnormal income amount equal to the amount of the excess.