Income Tax Assessment Act 1936

S 6AC repealed by No 143 of 2007 , s 3 and Sch 1 item 26, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s 559A . S 6AC formerly read:

SECTION 6AC GROSSING-UP OF FOREIGN INCOME  
6AC(1)
Where a resident taxpayer has derived an amount of foreign income and has paid an amount of foreign tax in respect of that income, the amount of foreign income shall, for the purposes of this Act, be taken to be the amount of that income before payment of that tax.

6AC(2)
(Repealed by No 96 of 2004)

6AC(3)
Where a taxpayer is, because of section 160AFCA or 160AFCK , taken to have paid an amount of foreign tax in respect of an amount included in the assessable income of the taxpayer under section 456 (in this subsection called the section 456 amount ), the section 456 amount is taken, for the purposes of this Act (other than sections 160AFCA and 371 ) to be increased by the amount of that tax.

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History

S 6AC(3) amended by No 190 of 1992 and inserted by No 5 of 1991.

6AC(4)
Where a taxpayer is, because of section 160AFCB , taken to have paid an amount of foreign tax in respect of an amount included in the assessable income of the taxpayer under section 457 (in this subsection called the section 457 amount ), the section 457 amount is taken, for the purposes of this Act (other than sections 160AFCB and 371 ) to be increased by the amount of that tax.

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History

S 6AC(4) inserted by No 5 of 1991.

6AC(5)
(Repealed by No 96 of 2004)

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History

S 6AC(5) inserted by No 5 of 1991.

6AC(6)
If a taxpayer is, because of section 160AFCE , 160AFCF , 160AFCG or 160AFCH , taken to have paid an amount of foreign tax in respect of an amount included in the assessable income of the taxpayer under section 529 ( the section 529 amount ), the section 529 amount is taken, for the purposes of this Act (other than sections 160AFCE , 160AFCF , 160AFCG , 160AFCH and 605 ) to be increased by the amount of that tax.

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History

S 6AC(6) inserted by No 190 of 1992.

6AC(7)
This section applies to a non-share dividend in the same way as it applies to a dividend.

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History

S 6AC(7) inserted by No 163 of 2001. For application provisions, see note under s 6AB(5B) .

S 6AC inserted by No 51 of 1986.