Income Tax Assessment Act 1936
SCHEDULE 2D - TAX EXEMPT ENTITIES THAT BECOME TAXABLE Division 57 - Tax exempt entities that become taxable
Guide to Division 57 SECTION 57-1 WHAT THIS DIVISION IS ABOUT
This Division is about the income tax treatment of a taxpayer whose income ceases to be wholly exempt. Broadly, income, outgoings, gains and losses are attributed to the periods before and after the loss of full exemption.