Income Tax Assessment Act 1936

Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. No 114 of 2010, Sch 1 item 95 contains the following saving provisions:

95 Saving of regulations relating to stock exchanges  
95
Despite the repeal of the definition of approved stock exchange in section 470 of the Income Tax Assessment Act 1936 by item 37 of this Schedule, regulations made for the purposes of that definition that were in force immediately before this item commences continue in force on and after that commencement as if those regulations had been made for the purposes of the definition of approved stock exchange in the Income Tax Assessment Act 1997 as inserted by item 81 of this Schedule. 96 Saving of elections relating to foreign hybrids  
96
Despite the repeal of subsection 485AA(1) of the Income Tax Assessment Act 1936 by item 37 of this Schedule, elections made under that subsection continue to have effect on and after the commencement of this Schedule as if that repeal had not happened.

Part XI inserted by No 190 of 1992.

Div 10 repealed by No 32 of 2006, s 3 and Sch 1 item 15, effective 6 April 2006.

S 517 repealed by No 32 of 2006, s 3 and Sch 1 item 15, effective 6 April 2006. S 517 formerly read:

SECTION 517 EXEMPTION  
517(1)
If a taxpayer is an exempt visitor to Australia in relation to a year of income, the operative provision does not apply to the taxpayer in relation to a FIF or FLP in respect of the notional accounting period of the FIF or FLP that ends in that year of income.

517(2) [Who is an exempt visitor]  

For the purposes of this section, a person is an exempt visitor to Australia in relation to a year of income if at the end of the year of income:

(a) the person was lawfully in Australia because the person was the holder of a temporary visa (the current visa ) granted under the Migration Act 1958 ; and

(b) the period from the time when:

(i) the current visa; or

(ii) if the current visa was granted by way of an extension of a previous temporary visa or of extensions of previous temporary entry visas - the earlier or earliest previous temporary visa;

was granted until the current visa is due to expire does not exceed 4 years; and

(c) the person is not awaiting the determination of an application for the grant to the person of permanent residency in Australia under that Act.

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History

S 517(2) amended by No 122 of 1997.

517(3)
A reference in subsection (2) to a temporary visa includes a reference to a temporary entry permit granted before 1 September 1994.

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History

S 517(3) inserted by No 122 of 1997.

517(4)
For the purposes of this section, a person who is a citizen of New Zealand is an exempt visitor to Australia in relation to a year of income if:

(a) at the end of that year of income:

(i) the person had not been a resident of Australia for a continuous period exceeding 4 years; and

(ii) had the person not been a citizen of New Zealand, he or she would have been required to be the holder of a temporary visa; and

(b) the person has not come to live in Australia permanently.

S 517(4) inserted by No 122 of 1997.

S 517 inserted by No 190 of 1992.