INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 51 - Exempt amounts  

SECTION 51-60   Prime Minister ' s Prizes  

51-60(1)  
To the extent that the Prime Minister ' s Prize for Australian History would otherwise be assessable income, it is exempt from income tax.

51-60(2)  
To the extent that the Prime Minister ' s Prize for Science would otherwise be assessable income, it is exempt from income tax.

51-60(3)  
To the extent that a Prime Minister ' s Literary Award would otherwise be assessable income, it is exempt from income tax.


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