Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 1AB - Certain State/Territory bodies exempt from income tax  

Subdivision A - Exemption for certain State/Territory bodies  

SECTION 24AM   24AM   CERTAIN STBs EXEMPT FROM TAX  

The income of a State/Territory body (an STB ) is exempt from income tax unless section 24AN applies to the STB.