Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 16 - Averaging of incomes  

SECTION 152   152   TAXPAYER NOT IN RECEIPT OF ASSESSABLE INCOME  

Any year in which the taxpayer was not carrying on business and was not in receipt of assessable income shall not be counted as an average year, and the provisions of this Division shall apply to the income thereafter derived by the taxpayer as if he or she had never been a taxpayer before that year.