INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 15 - Some items of assessable income  

Operative provisions  

SECTION 15-20   Royalties  

15-20(1)  
Your assessable income includes an amount that you receive as or by way of royalty within the ordinary meaning of " royalty " (disregarding the definition of royalty in subsection 995-1(1) ) if the amount is not assessable as * ordinary income under section 6-5 .

15-20(2)  


Subsection (1) does not apply to an amount of a payment to which section 15-22 or 15-23 applies.

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