Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 16
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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.
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.
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