Income Tax Assessment Act 1936

Div 10B repealed by No 164 of 2007, s 3 and Sch 10 item 41, effective 1 July 2010.

Div 10B inserted by No 101 of 1956.

S 124V repealed by No 164 of 2007, s 3 and Sch 10 item 41, effective 1 July 2010. S 124V formerly read:

SECTION 124V INTEREST BY LICENCE IN PATENT ETC.  
124V(1)
For the purposes of this Division, the owner of a unit of industrial property who, by licence, grants to another person an interest in the copyright to which the unit relates shall, subject to subsection (2), be deemed to have disposed of the unit in part.

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History

S 124V(1) amended by No 101 of 2006 , s 3 and Sch 2 item 318, by substituting " copyright " for " patent, copyright or design " , effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 124V(1) amended by No 108 of 1981.

124V(2)
For the purposes of this Division, where a person who became the owner of a unit of industrial property by reason of the grant to him, by licence, of an interest in a copyright surrenders that licence:

(a) that person shall not be deemed to have disposed of the unit unless the surrender was made in consideration of the payment to him of an amount; and

(b) the person to whom the licence was surrendered shall not, by reason only of the surrender, be deemed to have acquired a unit of industrial property.

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History

S 124V(2) amended by No 101 of 2006 , s 3 and Sch 2 item 318, by substituting " copyright " for " patent, copyright or design " , effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 124V(2) amended by No 172 of 1978.

124V(3)
Where a unit of industrial property arises out of the grant, by licence, of an interest in a copyright, an extension of the term of that licence shall, for the purposes of this Division, be deemed to be the grant of a new licence.

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History

S 124V(3) amended by No 101 of 2006 , s 3 and Sch 2 item 318, by substituting " copyright " for " patent, copyright or design " , effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .