INCOME TAX ASSESSMENT ACT 1997
This Part is about 2 issues relating to personal services income.
Division 85 limits the entitlements of individuals to deductions relating to their personal services income.
Division 86 sets out the tax consequences of individuals' personal services income being diverted to other entities (often called alienation of the income).
These Divisions do not affect individuals or other entities that conduct personal services businesses. Division 87 defines personal services businesses.
This Part may not apply until the 2002-03 income year to participants in the prescribed payments system on 13 April 2000: see item 26 of Schedule 1 to the New Business Tax System (Alienation of Personal Services Income) Act 2000 .