S 424 repealed by
No 143 of 2007
, s 3 and Sch 1 item 94, 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
. S 424 formerly read:
SECTION 424 CLASSES OF NOTIONAL ASSESSABLE INCOME
For the purposes of this Subdivision but subject to subsection (2), each of the following amounts included in notional assessable income constitutes a single class:
interest income (within the meaning of subsection
modified passive income (within the meaning of subsection
offshore banking income (within the meaning of subsection
all other amounts.
Subsection (1) does not apply to an amount included in notional assessable income under Part
Income Tax Assessment Act 1997
as modified in accordance with Subdivision C.
S 424(2) amended by
No 101 of 2006
, s 3 and Sch 2 item 477, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
S 424 amended by No 46 of 1998 and inserted by No 5 of 1991.