PART I
-
PRELIMINARY
SECTION 1
1
SHORT TITLE
This Act may be cited as the
Income Tax Assessment Act 1936.
[
CCH Note:
The
Income Tax Assessment Act
comprises the
Income Tax Assessment Act 1936
as amended. For details of amending Acts, see the List of Amending Acts in the front of the Act. Each section or subsection that has been amended is followed by a history note which lists the Act or Acts which have amended the section or subsection. In the case of substantive amendments effected in the last five years, full details of the amendments are given.
"
This Act
"
also includes the
Income Tax Assessment Act 1997
, and Pt
IVC
of the
Taxation Administration Act 1953
-
see s 6(1) definition.]
History
Archived:
S 2 to 4 repealed as inoperative by
No 101 of 2006
, s 3 and Sch 1 item 5, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
. For former wording see the
CCH Australian Income Tax Legislation archive
.
FORMER SECTION 5
5
PARTS
(Repealed by No 164 of 1973)
SECTION 6
INTERPRETATION
6(1AA)
So far as a provision of the
Income Tax Assessment Act 1936
gives an expression a particular meaning, the provision does
not
also have effect for the purposes of the
Income Tax Assessment Act 1997
(the
1997 Act
), or for the purposes of Schedule
1
to the
Taxation Administration Act 1953
, except as provided in the 1997 Act or in that Schedule.
History
S 6(1AA) amended by No 178 of 1999 and inserted by No 39 of 1997.
6(1)
In this Act, unless the contrary intention appears:
100% subsidiary
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
100% subsidiary
"
inserted by No 46 of 1998.
accrued leave transfer payment
(Repealed by No 56 of 2010)
History
Definition of
"
accrued leave transfer payment
"
repealed by No 56 of 2010, s 3 and Sch 6 item 114, effective 3 June 2010. The definition formerly read:
accrued leave transfer payment
has the meaning given by section 6G.
Definition of
"
accrued leave transfer payment
"
inserted by No 17 of 1993.
adjusted fringe benefits total
, of a taxpayer for a year of income, has the meaning given by clause
4
of Schedule
3
to the
A New Tax System (Family Assistance) Act 1999
.
History
Definition of
"
adjusted fringe benefits total
"
substituted by No 55 of 2016, s 3 and Sch 15 item 2, effective 1 January 2017. No 55 of 2016, s 3 and Sch 15 items 5(8)
-
(12) contain the following application provisions:
5 Application provisions
…
Rebate for medical expenses
(8)
The amendments apply in relation to working out whether a taxpayer is entitled to a rebate of tax, and the amount of the rebate, under section
159P
of the
Income Tax Assessment Act 1936
in respect of a year of income beginning on or after 1 January 2017.
Rebate for low income aged persons and pensioners
(9)
The amendments apply in relation to working out whether a taxpayer is entitled to a rebate of tax under section
160AAAA
of the
Income Tax Assessment Act 1936
in respect of a year of income beginning on or after 1 January 2017.
(10)
The amendments apply in relation to working out whether a trustee is entitled to a rebate of tax under section
160AAAB
of the
Income Tax Assessment Act 1936
in respect of a year of income beginning on or after 1 January 2017.
Dependant (invalid and carer) tax offset
(11)
The amendments apply in relation to working out whether an individual is entitled to a tax offset, and the amount of the offset, under section
61-10
of the
Income Tax Assessment Act 1997
for an income year beginning on or 1 January 2017.
Dependant (non-student child under 21 or student) notional tax offset
(12)
The amendments apply in relation to working out the amount of an individual
'
s notional tax offset under Subdivision
961-A
of the
Income Tax Assessment Act 1997
for an income year beginning on or 1 January 2017.
The definition formerly read:
of a taxpayer for a year of income is the amount worked out using the formula:
Taxpayer
'
s reportable
fringe benefits total |
× |
(1
−
FBT rate) |
where:
FBT rate
is the rate of tax set by the
Fringe Benefits Tax Act 1986
for the FBT year (as defined in the
Fringe Benefits Tax Assessment Act 1986
) beginning on the 1 April just before the start of the year of income.
Definition of
"
adjusted fringe benefits total
"
inserted by No 27 of 2009, s 3 and Sch 3 item 1, applicable in relation to income years starting on or after 1 July 2009.
adjusted taxable income for rebates
means adjusted taxable income (within the meaning of the
A New Tax System (Family Assistance) Act 1999
, disregarding clauses
3
and
3A
of Schedule
3
to that Act).
History
Definition of
"
adjusted taxable income for rebates
"
inserted by No 84 of 2013, s 3 and Sch 5 item 1, applicable to assessments for the 2012-13 year of income and later years of income.
AFOF
means an Australian venture capital fund of funds within the meaning of subsection
118-410(3)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
AFOF
"
inserted by No 136 of 2002.
agent
: this Act applies to some entities (within the meaning of the
Income Tax Assessment Act 1997
) that are not agents in the same way as it applies to agents: see section
960-105
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
agent
"
substituted by No 56 of 2010, s 3 and Sch 6 item 118, effective 3 June 2010. No 56 of 2010, s 3 and Sch 6 item 119 contains the following transitional provision:
119 Transitional provision relating to agents
119
A declaration in force for the purposes of paragraph (b) of the definition of
agent
in subsection
6(1)
of the
Income Tax Assessment Act 1936
immediately before the repeal of that definition continues to have effect on and after that repeal as if it were a determination under subsection
960-105(2)
of the
Income Tax Assessment Act 1997
.
The definition formerly read:
agent
includes:
(a)
every person who in Australia, for or on behalf of any person out of Australia holds or has the control, receipt or disposal of any money belonging to that person; and
(b)
every person declared by the Commissioner to be an agent or the sole agent of any person for any of the purposes of this Act.
Agriculture Secretary
(Repealed by No 110 of 2014)
History
Definition of
"
Agriculture Secretary
"
repealed by No 110 of 2014, s 3 and Sch 5 item 7(a), effective 16 October 2014. The definition formerly read:
Agriculture Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Agriculture Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 21, effective 18 September 2009.
allowable deduction
has the same meaning as
deduction
has in the
Income Tax Assessment Act 1997
.
History
Definition of
"
allowable deduction
"
substituted by No 56 of 2010, s 3 and Sch 6 item 120, effective 3 June 2010. The definition formerly read:
allowable deduction
means a deduction allowable under this Act.
AMIT
(short for
attribution managed investment trust
) has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
AMIT
"
inserted by No 53 of 2016, s 3 and Sch 6 item 1, effective 5 May 2016. For application provision, see note under s
128AF
.
amount paid-up
on a share means the amount (if any), including any premium, paid on that share.
History
Definition of
"
amount paid-up
"
inserted by No 63 of 1998.
amount unpaid
on a share means the amount (if any) unpaid on that share.
History
Definition of
"
amount unpaid
"
inserted by No 63 of 1998.
apportionable deductions
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
approved form
has the meaning given by section
388-50
in Schedule
1
to the
Taxation Administration Act 1953
.
History
Definition of
"
approved form
"
inserted by No 91 of 2000.
approved stock exchange
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
approved stock exchange
"
inserted by No 114 of 2010, s 3 and Sch 1 item 1, effective 14 July 2010.
Arts Department
(Repealed by No 110 of 2014)
History
Definition of
"
Arts Department
"
repealed byNo 110 of 2014, s 3 and Sch 5 item 7(b), effective 16 October 2014. The definition formerly read:
Arts Department
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Arts Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 22, effective 18 September 2009.
Arts Minister
(Repealed by No 110 of 2014)
History
Definition of
"
Arts Minister
"
repealed by No 110 of 2014, s 3 and Sch 5 item 7(c), effective 16 October 2014. The definition formerly read:
Arts Minister
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Arts Minister
"
inserted by No 88 of 2009, s 3 and Sch 5 item 23, effective 18 September 2009.
Arts Secretary
(Repealed by No 110 of 2014)
History
Definition of
"
Arts Secretary
"
repealed by No 110 of 2014, s 3 and Sch 5 item 7(d), effective 16 October 2014. The definition formerly read:
Arts Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Arts Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 24, effective 18 September 2009.
assessable income
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
assessment
means:
(a)
the ascertainment:
(i)
of the amount of taxable income (or that there is no taxable income); and
(ii)
of the tax payable on that taxable income (or that no tax is payable); and
(iii)
of the total of a taxpayer
'
s tax offset refunds for a year of income (or that the taxpayer can get no such refunds for the year of income); or
Note 1:
A taxpayer does not have a taxable income if the taxpayer
'
s deductions equal or exceed the taxpayer
'
s assessable income: see subsection
4-15(1)
of the
Income Tax Assessment Act 1997
.
Note 2:
A taxpayer may have no tax payable on an amount of taxable income if that income is below the tax-free threshold or if the taxpayer
'
s tax offsets reduce the taxpayer
'
s basic income tax liability to nil.
(b)
(Repealed by No 53 of 2016)
(c)
for a taxpayer that is the trustee of a unit trust that is a public trading trust (within the meaning of section
102R
)
-
the ascertainment:
(i)
of the net income of the trust (within the meaning of section
102M
) (or that there is no net income); and
(ii)
of the tax payable on that net income (or that no tax is payable); and
(iii)
of the total of a taxpayer
'
s tax offset refunds for a year of income (or that the taxpayer can get no such refunds for the year of income); or
(d)
for a taxpayer that is the trustee of a trust estate (other than a trustee to which paragraph (b) or (c) applies or the trustee of a complying superannuation fund, a non-complying superannuationfund, a complying approved deposit fund, a non-complying approved deposit fund or a pooled superannuation trust)
-
the ascertainment:
(i)
of so much of the net income of the trust estate as is net income in respect of which the trustee is liable to pay tax (or that there is no net income in respect of which the trustee is so liable); and
(ii)
of the tax payable on that net income (or that no tax is payable); and
(iii)
of the total of a taxpayer
'
s tax offset refunds for a year of income (or that the taxpayer can get no such refunds for the year of income); or
(e)
the ascertainment of the amount of interest payable under section
102AAM
(about distributions from non-resident trust estates); or
(f)
(Repealed by No 15 of 2017)
(g)
(Repealed by No 4 of 2018)
(h)
the ascertainment of the amount of income tax payable on the no-TFN contributions income as defined by section
295-610
of the
Income Tax Assessment Act 1997
(or that no tax is payable); or
(i)
(Repealed by No 70 of 2015)
(j)
the ascertainment of the amount payable (or that no amount is payable) under the following:
(i)
subsection
276-105(2)
of the
Income Tax Assessment Act 1997
(AMIT trustee taxed on amounts attributed to foreign resident members);
(ii)
subsection
276-340(2)
of that Act (AMIT trustee taxed on trust component deficit of character relating to tax offset);
(iii)
subsection
276-405(2)
of that Act (AMIT trustee taxed on shortfall in determined member components of character relating to assessable income);
(iv)
subsection
276-410(2)
of that Act (AMIT trustee taxed on excess in determined member components of character relating to tax offset);
(v)
subsection
276-415(2)
of that Act (AMIT trustee taxed on amounts of determined trust component that are not reflected in member components);
(vi)
subsection
276-420(2)
of that Act (AMIT trustee taxed on amounts of under of character relating to assessable income not properly carried forward);
(vii)
subsection
276-425(2)
of that Act (AMIT trustee taxed on amounts of over of character relating to tax offset not properly carried forward); or
(k)
the ascertainment of the amount payable under subsection
177P(1)
(diverted profits tax).
History
Definition of
"
assessment
"
amended by No 4 of 2018, s 3 and Sch 6 item 4, by repealing para (g), effective 21 February 2018. For application provisions, see note under Pt III Div
16L
heading. Para (g) formerly read:
(g)
the ascertainment of an amount of tax under section 159GZZZZH; or
Definition of
"
assessment
"
amended by No 27 of 2017, s 3 and Sch 1 item 2, by inserting para (k), applicable in relation to DPT tax benefits for a year of income that starts on or after 1 July 2017 (whether or not the DPT tax benefit arises in connection with a scheme that was entered into, or was commenced to be carried out, before 1 July 2017).
Definition of
"
assessment
"
amended by No 15 of 2017, s 3 and Sch 4 item 20, by repealing para (f), effective 1 April 2017. Para (f) formerly read:
(f)
the ascertainment of an amount of additional tax under section 128TE; or
Definition of
"
assessment
"
amended by No 53 of 2016, s 3 and Sch 6 item 2, by inserting para (j), effective 5 May 2016. For application provision, see note under s
128AF
.
Definition of
"
assessment
"
amended by No 53 of 2016, s 3 and Sch 5 item 6, by repealing para (b), applicable to assessments for income years starting on or after 1 July 2016. For transitional provision, see note under Pt III Div
6B
heading. Para (b) formerly read:
(b)
for a taxpayer that is the trustee of a unit trust that is a corporate unit trust (within the meaning of section 102J)
-
the ascertainment:
(i)
of the net income of the trust (within the meaning of section 102D) (or that there is no net income); and
(ii)
of the tax payable on that net income (or that no tax is payable); and
(iii)
of the total of the taxpayer
'
s tax offset refunds for a year of income (or that the taxpayer can get no such refunds for the year of income); or
Definition of
"
assessment
"
amended by No 70 of 2015, s 3 and Sch 1 items 47 and 48, by substituting
"
payable).
"
for
"
payable); or
"
in para (h) and repealing para (i), effective 1 July 2015. Para (i) formerly read:
(i)
the ascertainment of an amount of FHSA misuse tax (within the meaning of the
Income Tax Assessment Act 1997
) (or that no tax is payable).
Definition of
"
assessment
"
amended by No 88 of 2013, s 3 and Sch 5 item 11, by substituting paras (a) to (d), applicable to assessments made on or after 1 July 2013 for the 2013-14 income year or later income years. The paras formerly read:
(a)
the ascertainment of the amount of taxable income (or that there is no taxable income) and of the tax payable on that taxable income (or that no tax is payable); or
Note 1:
A taxpayer does not have a taxable income if the taxpayer
'
s deductions equal or exceed the taxpayer
'
s assessable income: see subsection
4-15(1)
of the
Income Tax Assessment Act 1997
.
Note 2:
A taxpayer may have no tax payable on an amount of taxable income if that income is below the tax-free threshold or if the taxpayer
'
s tax offsets reduce the taxpayer
'
s basic income tax liability to nil.
(b)
for a taxpayer being the trustee of a unit trust that is a corporate unit trust within the meaning of section
102J
-
the ascertainment of the net income of the trust as defined by section
102D
(or that there is no net income) and of the tax payable on that net income (or that no tax is payable); or
(c)
for a taxpayer being the trustee of a unit trust that is a public trading trust within the meaning of section
102R
-
the ascertainment of the net income of the trust as defined by section
102M
(or that there is no net income) and of the tax payable on that net income (or that no tax is payable); or
(d)
for any other taxpayer that is the trustee of a trust estate but excluding a taxpayer that is the trustee of a complying superannuation fund, a non-complying superannuation fund, a complying approved deposit fund, a non-complying approved deposit fund or a pooled superannuation trust
-
the ascertainment of so much of the net income of the trust estate as is net income in respect of which the trustee is liable to pay tax (or that there is no net income in respect of which the trustee is so liable) and of the tax payable on that net income (or that no tax is payable); or
Definition of
"
assessment
"
amended by No 45 of 2008, s 3 and Sch 1 item 2, by inserting para (i) at the end, effective 26 June 2008.
Definition of
"
assessment
"
amended by No 15 of 2007, s 3 and Sch 1 item 22, by substituting
"
a complying superannuation fund, a non-complying superannuation fund, a complying approved deposit fund, a non-complying approved deposit fund or a pooled superannuation trust
"
for
"
a fund or unit trust referred to in paragraph (a), (b) or (c) of the definition of
eligible entity
in subsection
267(1)
"
in para (d), applicable to the 2007-2008 income year and later years.
Definition of
"
assessment
"
amended by
No 9 of 2007
, s 3 and Sch 1 item 3, by inserting para (h), applicable to the 2007-2008 income year and later years.
Definition of
"
assessment
"
substituted by No 161 of 2005; amended by No 11 of 1999; No 169 of 1995; No 5 of 1991; No 20 of 1990 and No 123 of 1984.
attribution managed investment trust
: see
AMIT
.
History
Definition of
"
attribution managed investment trust
"
inserted by No 53 of 2016, s 3 and Sch 6 item 3, effective 5 May 2016. For application provision, see note under s
128AF
.
Australia
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
Australia
"
inserted by No 2 of 2015, s 3 and Sch 4 item 9, applicable to an income year, a year of income or a tax period that commences on or after 1 July 2015.
Australian superannuation fund
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
Australian superannuation fund
"
inserted by No 15 of 2007, s 3 and Sch 1 item 23, applicable to the 2007-2008 income year and later years.
bank
or
banker
includes, but is not limited to, a body corporate that is an ADI (authorised deposit-taking institution) for the purposes of the
Banking Act 1959
.
History
Definition of
"
bank
"
or
"
banker
"
inserted by No 48 of 1998.
base interest rate
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
base interest rate
"
inserted by
No 101 of 2006
, s 3 and Sch 2 item 120, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
basic income tax liability
has the meaning given by section
4-10
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
basic income tax liability
"
inserted by No 43 of 2011, s 3 and Sch 2 item 1, applicable to assessments for the 2011-12 income year and later income years.
Board of Referees
(Repealed by No 216 of 1973)
business
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
capital gain
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
capital gain
"
substituted by No 46 of 1998 and inserted by No 147 of 1997.
capital loss
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
capital loss
"
substituted by No 46 of 1998 and inserted by No 147 of 1997.
capital proceeds
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
capital proceeds
"
inserted by No 46 of 1998.
CGT asset
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
CGT asset
"
inserted by No 46 of 1998.
CGT event
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
CGT event
"
inserted by No 46 of 1998.
Chief Executive Centrelink
has the same meaning as in the
Human Services (Centrelink) Act 1997
.
History
Definition of
"
Chief Executive Centrelink
"
inserted by No 32 of 2011, s 3 and Sch 4 item 282, effective 1 July 2011. For transitional provisions see note under s
202CB(6)
.
child
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
Commissioner
means the Commissioner of Taxation.
Commonwealth education or training payment
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
Commonwealth securities
(Repealed by No 64 of 2020)
History
Definition of
"
Commonwealth securities
"
repealed by No 64 of 2020, s 3 and Sch 3 item 203, effective 1 October 2020. For transitional provisions, see note under s
130
. The definition formerly read:
Commonwealth securities
means bonds, debentures, stock or other securities issued under an Act, but does not include:
(a)
securities (not being securities to which paragraph (b) applies) issued in respect of a loan raised outside Australia unless there is in force a declaration by the Minister, published in the
Gazette
, that those securities shall be Commonwealth securities for the purposes of this Act; or
(b)
securities issued after 12 April 1976 by a bank.
Definition of
"
Commonwealth securities
"
amended by No 110 of 2014, s 3 and Sch 5 item 8, by substituting
"
Minister
"
for
"
Treasurer
"
in para (a), effective 16 October 2014.
Definition of
"
Commonwealth securities
"
substituted by No 50 of 1976.
Former definition inserted by No 17 of 1961.
company
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
complying approved deposit fund
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
complying approved deposit fund
"
inserted by No 15 of 2007, s 3 and Sch 1 item 24, applicable to the 2007-2008 income year and later years.
complying superannuation fund
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
complying superannuation fund
"
inserted by No 15 of 2007, s 3 and Sch 1 item 25, applicable to the 2007-2008 income year and later years.
"concessional deductions"
(Repealed by No 107 of 1989)
History
Definition of
"
concessional deductions
"
omitted by No 107 of 1989 and amended by No 108 of 1981; No 117 of 1975; No 126 of 1974 and No 51 of 1973.
consolidated group
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
consolidated group
"
inserted by No 117 of 2002.
constituent document
, in relation to a company, means the memorandum and articles of association of the company, or any rules or other document constituting the company or governing its activities.
corporate limited partnership
has the meaning given by section
94D
.
History
Definition of
"
corporate limited partnership
"
inserted by No 75 of 2010, s 3 and Sch 1 item 1, applicable in relation to: (a) payments made; and (b) loans made; and (c) debts forgiven; on or after 1 July 2009.
corporate tax entity
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
corporate tax entity
"
inserted by No 23 of 2005.
corporate tax rate
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
corporate tax rate
"
inserted by No 23 of 2005.
cost base
of a CGT asset has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
cost base
"
inserted by No 46 of 1998.
creditable acquisition
has the meaning given by section 195-1 of the GST Act.
History
Definition of
"
creditable acquisition
"
inserted by No 176 of 1999.
"daughter"
(Repealed by No 135 of 1990)
debenture
, in relation to a company, includes debenture stock, bonds, notes and any other securities of the company, whether constituting a charge on the assets of the company or not.
History
Definition of
"
debenture
"
inserted by No 54 of 1971.
debt interest
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
debt interest
"
inserted by No 163 of 2001.
deductible gift recipient
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
deductible gift recipient
"
inserted by No 169 of 2012, s 3 and Sch 2 item 1, effective 3 December 2012.
Defence Department
(Repealed by No 145 of 2010)
History
Definition of
"
Defence Department
"
repealed by No 145 of 2010, s 3 and Sch 3 item 1, effective 17 December 2010. The definition formerly read:
Defence Department
means the Department that:
(a)
deals with matters arising under section 1 of the
Defence Act 1903
; and
(b)
is administered by the Defence Minister.
Definition of
"
Defence Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 25, effective 18 September 2009.
Defence Minister
(Repealed by No 145 of 2010)
History
Definition of
"
Defence Minister
"
repealed by No 145 of 2010, s 3 and Sch 3 item 2, effective 17 December 2010. The definition formerly read:
Defence Minister
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Defence Minister
"
inserted by No 88 of 2009, s 3 and Sch 5 item 26, effective 18 September 2009.
Defence Secretary
(Repealed by No 145 of 2010)
History
Definition of
"
Defence Secretary
"
repealed by No 145 of 2010, s 3 and Sch 3 item 3, effective 17 December 2010. The definition formerly read:
Defence Secretary
means the Secretary of the Defence Department.
Definition of
"
Defence Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 27, effective 18 September 2009.
demerged entity
has the meaning given by section
125-70
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
demerged entity
"
inserted by No 90 of 2002.
demerger
has the meaning given by section
125-70
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
demerger
"
inserted by No 90 of 2002.
demerger allocation
means:
(a)
the total market value of the allocation represented by the ownership interests issued by the demerged entity in itself under a demerger to the owners of ownership interests in the head entity of the demerger group; or
(b)
the total market value of the allocation represented by the ownership interests disposed of by a member of a demerger group under a demerger to the owners of ownership interests in the head entity; or
(c)
the total of both of those market values.
History
Definition of
"
demerger allocation
"
inserted by No 90 of 2002.
demerger dividend
means that part of a demerger allocation that is assessable as a dividend under subsection
44(1)
or that would be so assessable apart from subsections
44(3) and (4)
.
History
Definition of
"
demerger dividend
"
inserted by No 90 of 2002.
demerger group
has the meaning given by section
125-65
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
demerger group
"
inserted by No 90 of 2002.
demerger subsidiary
has the meaning given by section
125-65
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
demerger subsidiary
"
inserted by No 90 of 2002.
demerging entity
has the meaning given by section
125-70
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
demerging entity
"
inserted by No 90 of 2002.
depreciating asset
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
depreciating asset
"
inserted by No 77 of 2001.
Deputy Commissioner
means a Deputy Commissioner of Taxation.
distribution
, when used in a franking context, has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
distribution
"
inserted by No 23 of 2005.
diverted profits tax
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
diverted profits tax
"
inserted by No 27 of 2017, s 3 and Sch 1 item 3, applicable in relation to DPT tax benefits for a year of income that starts on or after 1 July 2017 (whether or not the DPT tax benefit arises in connection with a scheme that was entered into, or was commenced to be carried out, before 1 July 2017).
dividend
includes:
(a)
any distribution made by a company to any of its shareholders, whether in money or other property; and
(b)
any amount credited by a company to any of its shareholders as shareholders;
(c)
(Repealed by No 63 of 1998)
but does not include:
(d)
moneys paid or credited by a company to a shareholder or any other property distributed by a company to shareholders (not being moneys or other property to which this paragraph, by reason of subsection (4), does not apply or moneys paid or credited, or property distributed for the redemption or cancellation of a redeemable preference share), where the amount of the moneys paid or credited, or the amount of the value of the property, is debited against an amount standing to the credit of the share capital account of the company; or
(e)
moneys paid or credited, or property distributed, by a company for the redemption or cancellation of a redeemable preference share if:
(i)
the company gives the holder of the share a notice when it redeems or cancels the share; and
(ii)
the notice specifies the amount paid-up on the share immediately before the cancellation or redemption; and
(iii)
the amount is debited to the company
'
s share capital account;
except to the extent that the amount of those moneys or the value of that property, as the case may be, is greater than the amount specified in the notice as the amount paid-up on the share; or
(f)
a reversionary bonus on a life assurance policy.
Note:
Subsection (4) sets out when paragraph (d) of this definition does not apply.
History
Definition of
"
dividend
"
amended by No 41 of 2011, s 3 and Sch 5 item 61, by inserting a note at the end, effective 27 June 2011.
Definition of
"
dividend
"
amended by No 83 of 2004, s 3 and Sch 1 item 108, by substituting
"
a life assurance policy
"
for
"
a policy of life-assurance
"
in para (f), applicable in relation to amounts received or derived by a taxpayer under or in relation to a life assurance policy after 25 June 2004.
Definition of
"
dividend
"
amended by No 63 of 1998; No 51 of 1973 and substituted by No 85 of 1967.
dividend (withholding) tax
(Repealed by No 85 of 1967)
Division 230 financial arrangement
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
Division 230 financial arrangement
"
inserted by
No 15 of 2009
, s 3 and Sch 1 item 31, effective 26 March 2009.
dual resident investment company
has the meaning given by section
6F
.
History
Definition of
"
dual resident investment company
"
inserted by No 35 of 1990.
dwelling
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
dwelling
"
inserted by No 75 of 2010, s 3 and Sch 1 item 2, applicable in relation to: (a) payments made; and (b) loans made; and (c) debts forgiven; on or after 1 July 2009.
Education Department
(Repealed by No 110 of 2014)
History
Definition of
"
Education Department
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(a), effective 16 October 2014. The definition formerly read:
Education Department
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Education Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 28, effective 18 September 2009.
Education Secretary
(Repealed by No 15 of 2017)
History
Definition of
"
Education Secretary
"
repealed by No 15 of 2017, s 3 and Sch 4 item 21, effective 1 April 2017. The definition formerly read:
Education Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Education Secretary
"
substituted by No 145 of 2010, s 3 and Sch 3 item 4, effective 17 December 2010. The definition formerly read:
Education Secretary
means the Secretary of the Education Department.
Definition of
"
Education Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 29, effective 18 September 2009.
eligible taxable income
has the meaning given by section
102AD
.
History
Definition of
"
eligible taxable income
"
inserted by No 43 of 2011, s 3 and Sch 2 item 2, applicable to assessments for the 2011-12 income year and later income years.
Employment Department
(Repealed by No 41 of 2011)
History
Definition of
"
Employment Department
"
repealed by No 41 of 2011, s 3 and Sch 5 item 15, effective 27 June 2011. The definition formerly read:
Employment Department
means the Department that:
(a)
deals with matters arising under section 1 of the
Fair Work Act 2009
; and
(b)
is administered by the Employment Minister.
Definition of
"
Employment Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 30, effective 18 September 2009.
Employment Minister
(Repealed by No 41 of 2011)
History
Definition of
"
Employment Minister
"
repealed by No 41 of 2011, s 3 and Sch 5 item 16, effective 27 June 2011. The definition formerly read:
Employment Minister
means the Minister administering section 1 of the
Fair Work Act 2009
.
Definition of
"
Employment Minister
"
inserted by No 88 of 2009, s 3 and Sch 5 item 31, effective 18 September 2009.
Employment Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
Employment Secretary
"
substituted by No 41 of 2011, s 3 and Sch 5 item 17, effective 27 June 2011. The definition formerly read:
Employment Secretary
means the Secretary of the Employment Department.
Definition of
"
Employment Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 32, effective 18 September 2009.
employment termination payment
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
employment termination payment
"
inserted by No 15 of 2007, s 3 and Sch 1 item 26, applicable to the 2007-2008 income year and later years.
equity holder
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
equity holder
"
inserted by No 163 of 2001.
equity interest
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
equity interest
"
inserted by No 163 of 2001.
ESVCLP
means an early stage venture capital limited partnership within the meaning of subsection
118-407(4)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
ESVCLP
"
inserted by
No 78 of 2007
, s 3 and Sch 8 item 86, effective 21 June 2007.
exempt entity
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
exempt entity
"
inserted by No 46 of 1998.
exempt income
has the meaning given by section
6-20
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
exempt income
"
substituted by No 39 of 1997.
exploration credit
has the same meaning as in the
Income TaxAssessment Act 1997
.
History
Definition of
"
exploration credit
"
inserted by No 21 of 2015, s 3 and Sch 6 item 3, applicable in relation to the 2015-16, 2016-17 and 2017-18 income years, but not in relation to any later income years.
exploration development incentive tax offset
(Repealed by No 15 of 2018)
History
Definition of
"
exploration development incentive tax offset
"
repealed by No 15 of 2018, s 3 and Sch 1 item 7, effective 1 April 2018. For application and transitional provisions, see note under s
177F(3)
. The definition formerly read:
exploration development incentive tax offset
means a tax offset under Subdivision 418-B of the
Income Tax Assessment Act 1997
.
Definition of
"
exploration development incentive tax offset
"
inserted by No 21 of 2015, s 3 and Sch 6 item 3, applicable in relation to the 2015-16, 2016-17 and 2017-18 income years, but not in relation to any later income years.
Families Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
Families Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 33, effective 18 September 2009.
family tier 1 threshold
(Repealed by No 11 of 2014)
History
Definition of
"
family tier 1 threshold
"
repealed by No 11 of 2014, s 3 and Sch 3 item 3(a), effective 1 July 2019. The definition formerly read:
family tier 1 threshold
has the meaning given by the
A New Tax System (Medicare Levy Surcharge
-
Fringe Benefits) Act 1999
.
Definition of
"
family tier 1 threshold
"
inserted by No 84 of 2013, s 3 and Sch 5 item 2, applicable to assessments for the 2012-13 year of income and later years of income.
farm management deposit
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
farm management deposit
"
inserted by
No 79 of 2010
, s 3 and Sch 4 item 9, effective 1 July 2010.
FHSA
(Repealed by No 70 of 2015)
History
Definition of
"
FHSA
"
repealed by No 70 of 2015, s 3 and Sch 1 item 49, effective 1 July 2015. The definition formerly read:
FHSA
has the meaning given by the
First Home Saver Accounts Act 2008.
Definition of
"
FHSA
"
inserted by No 92 of 2008, s 3 and Sch 1 item 5, applicable from 1 October 2008.
FHSA trust
(Repealed by No 70 of 2015)
History
Definition of
"
FHSA trust
"
repealed by No 70 of 2015, s 3 and Sch 1 item 50, effective 1 July 2015. The definition formerly read:
FHSA trust
has the meaning given by the
First Home Saver Accounts Act 2008
.
Definition of
"
FHSA trust
"
inserted by No 45 of 2008, s 3 and Sch 1 item 3, effective 26 June 2008.
FMD provider
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
FMD provider
"
inserted by
No 79 of 2010
, s 3 and Sch 4 item 10, effective 1 July 2010.
foreign superannuation fund
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
foreign superannuation fund
"
substituted by No 15 of 2007, s 3 and Sch 1 item 27, applicable to the 2007-2008 income year and later years. The definition formerly read:
foreign superannuation fund
means a provident, benefit, superannuation or retirement fund:
(a)
that was established in a country outside Australia;
(b)
that was established, and is maintained and applied, for the sole purpose of providing superannuation benefits for persons other than persons who are, or would ordinarily be or become, residents of Australia or residents of a Territory (even if pensions are paid out of the fund to the latter persons); and
(c)
the central management and control of which is carried on outside Australia by persons none of whom is a resident of Australia or a resident of a Territory;
not being a fund for which an amount has been set aside, or to which an amount has been paid, by a taxpayer that is an amount that has been allowed or is allowable as a deduction, or in respect of which a rebate of tax has been allowed or is allowable, under any provision of this Act.
Definition of
"
foreign superannuation fund
"
amended by
No 101 of 2006
, s 3 and Sch 2 items 125 and 126, by amending references to repealed inoperative provisions, and adding
"
(even if pensions are paid out of the fund to the latter persons)
"
after
"
Territory
"
in para (b), effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
Definition of
"
foreign superannuation fund
"
amended by No 181 of 1994, No 117 of 1975, No 216 of 1973 and inserted by No 85 of 1967.
foreign tax
has the meaning given by section
6AB
.
History
Definition of
"
foreign tax
"
inserted by No 75 of 2010, s 3 and Sch 1 item 3, applicable in relation to: (a) payments made; and (b) loans made; and (c) debts forgiven; on or after 1 July 2009.
frankable distribution
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
frankable distribution
"
inserted by No 23 of 2005.
franked part
of a distribution has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franked part
"
inserted by No 16 of 2003.
franking credit
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franking credit
"
inserted by No 23 of 2005.
franking debit
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franking debit
"
inserted by No 23 of 2005.
franking deficit tax
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franking deficit tax
"
inserted by No 23 of 2005.
franking surplus
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franking surplus
"
inserted by No 23 of 2005.
franks with an exempting credit
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
franks with an exempting credit
"
inserted by No 23 of 2005.
friendly society
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
friendly society dispensary
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
friendly society dispensary
"
substituted by No 56 of 2010, s 3 and Sch 6 item 121, effective 3 June 2010. The definition formerly read:
friendly society dispensary
means an approved pharmaceutical chemist within the meaning of Part VII of the
National Health Act 1953
, being a friendly society, or a friendly society body, within the meaning of that Part.
Definition of
"
friendly society dispensary
"
substituted by No 103 of 1983 and inserted by No 154 of 1981.
fringe benefit
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
fringe benefit
"
inserted by
No 101 of 2006
, s 3 and Sch 2 item 128, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
full self-assessment taxpayer
, for a year of income (the
current year
), means any of the following:
(a)
a company;
(b)
(Repealed by No 53 of 2016)
(c)
the trustee of a trust that is a public trading trust in relation to the current year for the purposes of Division
6C
of Part
III
;
(d)
the trustee of a complying approved deposit fund or a non-complying approved deposit fund in relation to the current year;
(e)
the trustee of a complying superannuation fund or a non-complying superannuation fund in relation to the current year;
(f)
the trustee of a pooled superannuation trust in relation to the current year.
(g)
(Repealed by No 70 of 2015)
Note:
A corporate limited partnership is taken to be a company under section
94J
, so it will fall within paragraph (a) of this definition.
History
Definition of
"
full self-assessment taxpayer
"
amended by No 53 of 2016, s 3 and Sch 5 item 7, by repealing para (b), applicable to assessments for income years starting on or after 1 July 2016. For transitional provision, see note under Pt III Div
6B
heading. Para (b) formerly read:
(b)
the trustee of a trust that is a corporate unit trust in relation to the current year for the purposes of Division 6B of Part III;
Definition of
"
full self-assessment taxpayer
"
amended by No 70 of 2015, s 3 and Sch 1 items 51 and 52, by substituting
"
year.
"
for
"
year;
"
in para (f) and repealing para (g). Para (g) formerly read:
(g)
the trustee of an FHSA trust in relation to the current year.
Definition of
"
full self-assessment taxpayer
"
amended by No 88 of 2009, s 3 and Sch 5 item 306, by inserting para (g) at the end, applicable in relation to:
(a) the 2009-10 year of income; and
(b) later years of income.
Definition of
"
full self-assessment taxpayer
"
amended by No 15 of 2007, s 3 and Sch 1 item 28, by substituting paras (d), (e) and (f), applicable to the 2007-2008 income year and later years. Paras (d), (e) and (f) formerly read:
(d)
the trustee of a fund that is an eligible ADF (as defined in section
267
) in relation to the current year;
(e)
the trustee of a fund that is an eligible superannuation fund (as defined in section
267
) in relation to the current year;
(f)
the trustee of a fund that is a pooled superannuation trust (as defined in section
267
) in relation to the current year.
Definition of
"
full self-assessment taxpayer
"
inserted by No 179 of 1999.
fund payment
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
fund payment
"
inserted by
No 79 of 2007
, s 3 and Sch 10 item 3, applicable to the first income year starting on or after the first 1 July after 21 June 2007 and later income years.
general insurance company
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
general insurance company
"
inserted by No 97 of 2002.
general insurance policy
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
general insurance policy
"
inserted by No 97 of 2002.
general interest charge
means the charge worked out under Part
IIA
of the
Taxation Administration Act 1953
.
History
Definition of
"
general interest charge
"
amended by
No 101 of 2006
, s 3 and Sch 2 item 1023, by omitting the reference to a repealed inoperative division, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
Definition of
"
general interest charge
"
inserted by No 11 of 1999.
general partner
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
GST Act
means the
A New Tax System (Goods and Services Tax) Act 1999
.
History
Definition of
"
GST Act
"
inserted by No 176 of 1999.
head company
of a consolidated group or a MEC group has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
head company
"
inserted by No 117 of 2002.
head entity
of a demerger group has the meaning given by section
125-65
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
head entity
"
inserted by No 90 of 2002.
Health Department
(Repealed by No 110 of 2014)
History
Definition of
"
Health Department
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(b), effective 16 October 2014. The definition formerly read:
Health Department
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Health Department
"
substituted by No 145 of 2010, s 3 and Sch 3 item 5, effective 17 December 2010. The definition formerly read:
Health Department
means the Department that:
(a)
deals with matters arising under section 1 of the
National Health Act 1953
; and
(b)
is administered by the Health Minister.
Definition of
"
Health Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 34, effective 18 September 2009.
Health Minister
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
Health Minister
"
substituted by No 145 of 2010, s 3 and Sch 3 item 6, effective 17 December 2010. The definition formerly read:
Health Minister
means the Minister administering section 1 of the
National Health Act 1953
.
Definition of
"
Health Minister
"
inserted by No 88 of 2009, s 3 and Sch 5 item 35, effective 18 September 2009.
Health Secretary
(Repealed by No 110 of 2014)
History
Definition of
"
Health Secretary
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(c), effective 16 October 2014. The definition formerly read:
Health Secretary
means the Secretary of the Health Department.
Definition of
"
Health Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 36, effective 18 September 2009.
hold
, in relation to an RSA, has the same meaning as in the
Retirement Savings Accounts Act 1997
.
History
Definition of
"
hold
"
inserted by No 62 of 1997.
holder
, in relation to an RSA, has the same meaning as in the
Retirement Savings Accounts Act 1997
.
History
Definition of
"
holder
"
inserted by No 62 of 1997.
Housing Secretary
(Repealed by No 110 of 2014)
History
Definition of
"
Housing Secretary
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(d), effective 16 October 2014. The definition formerly read:
Housing Secretary
has the meaning given by the
Income Tax Assessment Act 1997
.
Definition of
"
Housing Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 37, effective 18 September 2009.
Immigration Department
(Repealed by No 110 of 2014)
History
Definition of
"
Immigration Department
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(e), effective 16 October 2014. The definition formerly read:
Immigration Department
means the Department that:
(a)
deals with matters arising under section 1 of the
Migration Act 1958
; and
(b)
is administered by the Immigration Minister.
Definition of
"
Immigration Department
"
inserted by No 88 of 2009, s 3 and Sch 5 item 38, effective 18 September 2009.
Immigration Minister
(Repealed by No 110 of 2014)
History
Definition of
"
Immigration Minister
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(f), effective 16 October 2014. The definition formerly read:
Immigration Minister
means the Minister administering section 1 of the
Migration Act 1958
.
Definition of
"
Immigration Minister
"
inserted by No 88 of 2009, s 3 and Sch 5 item 39, effective 18 September 2009.
Immigration Secretary
(Repealed by No 110 of 2014)
History
Definition of
"
Immigration Secretary
"
repealed by No 110 of 2014, s 3 and Sch 5 item 9(g), effective 16 October 2014. The definition formerly read:
Immigration Secretary
means the Secretary of the Immigration Department.
Definition of
"
Immigration Secretary
"
inserted by No 88 of 2009, s 3 and Sch 5 item 40, effective 18 September 2009.
income from personal exertion
or
income derived from personal exertion
means income consisting of earnings, salaries, wages, commissions, fees, bonuses, pensions, superannuation allowances, retiring allowances and retiring gratuities, allowances and gratuities received in the capacity of employee or in relation to any services rendered, the proceeds of any business carried on by the taxpayer either alone or as a partner with any other person, any amount received as a bounty or subsidy in carrying on a business, any amount that is included in the assessable income of the taxpayer by reason of section
393-10
of the
Income Tax Assessment Act 1997
, the income from any property where that income forms part of the emoluments of any office or employment of profit held by the taxpayer, and any profit arising from the sale by the taxpayer of any property acquired by the taxpayer for the purpose of profit-making by sale or from the carrying on or carrying out of any profit-making undertaking or scheme, but does not include:
(a)
interest, unless the taxpayer
'
s principal business consists of the lending of money, or unless the interest is received in respect of a debt due to the taxpayer for goods supplied or services rendered by the taxpayer in the course of the taxpayer
'
s business; or
(b)
rents, dividends or non-share dividends.
History
Definition of
"
income from personal exertion
"
or
"
income derived from personal exertion
"
amended by No 41 of 2011, s 3 and Sch 5 Pt 27, by removing gender-specific language, effective 27 June 2011.
Definition of
"
income from personal exertion
"
or
"
income derived from personal exertion
"
amended by
No 79 of 2010
, s 3 and Sch 4 item 11, by substituting
"
section 393-10 of the
Income Tax Assessment Act 1997
"
for
"
section 393-15 of Schedule 2G
"
, effective 1 July 2010.
Definition of
"
income from personal exertion
"
or
"
income derived from personal exertion
"
amended by
No 101 of 2006
, s 3 and Sch 2 item 130, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
Definition of
"
income from personal exertion
"
or
"
income derived from personal exertion
"
amended by No 163 of 2001.
Definition of
"
income from personal exertion
"
or
"
income derived from personal exertion
"
amended by No 85 of 1998; No 138 of 1994; No 205 of 1976 and No 126 of 1974.
income from property
or
income derived from property
means all income not being income from personal exertion.
income tax
means income tax imposed as such by any Act, as assessed under this Act, but, except in section
260
, does not include mining withholding tax or withholding tax.
History
Definition of
"
income tax
"
inserted by No 110 of 2014, s 3 and Sch 5 item 96, effective 16 October 2014.
income tax or tax
(Repealed by No 110 of 2014)
History
Definition of
"
income tax or tax
"
repealed by No 110 of 2014, s 3 and Sch 5 item 95, effective 16 October 2014. The definition formerly read:
income tax or tax
means income tax imposed as such by any Act, as assessed under this Act, but, except in section
260
, does not include mining withholding tax or withholding tax.
Definition of
"
income tax
"
or
"
tax
"
amended by
No 101 of 2006
, s 3 and Sch 2 item 131, by adding
"
, but, except in section 260, does not include mining withholding tax or withholding tax
"
after
"
this Act
"
, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
Definition of
"
income tax
"
or
"
tax
"
substituted by No 39 of 1997.
Indigenous land
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
Indigenous land
"
inserted by No 84 of 2013, s 3 and Sch 1 item 10, effective 28 June 2013.
Indigenous person
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
Indigenous person
"
inserted by No 84 of 2013, s 3 and Sch 1 item 11, effective 28 June 2013.
industrial, commercial or scientific equipment
means industrial, commercial or scientific equipment to the extent that an amount paid or credited as consideration for the use of the equipment, or for the right to use the equipment, is not rent from land (including rent from an interest in land or rent from fixtures on land).
History
Definition of
"
industrial, commercial or scientific equipment
"
inserted by No 34 of 2019, s 3 and Sch 1 item 15, effective 1 July 2019. No 34 of 2019, s 3 and Sch 1 item 16 contains the following application provision:
16 Application
(1)
The amendments made by this Schedule apply to a fund payment made by a managed investment trust in relation to an income year if:
(a)
the fund payment is made on or after 1 July 2019; and
(b)
the income year is the 2019-20 income year or a later income year.
(2)
To avoid doubt, the amendments made by this Schedule also apply for the purposes of working out the MIT cross staple arrangement income of a managed investment trust for a previous income year as mentioned in section
12-438
in Schedule
1
to the
Taxation Administration Act 1953
(as inserted by this Schedule).
…
(5)
Despite subitem (1), the amendment made by item 15 of this Schedule (which relates to the definition of
industrial, commercial or scientific equipment
in the
Income Tax Assessment Act 1936
) applies in relation to amounts paid or credited on or after 1 July 2019.
insurance business
has the same meaning as in the
Insurance Act 1973
.
History
Definition of
"
insurance business
"
inserted by No 97 of 2002.
insurance funds
, in relation to a company, means all the Australian statutory funds of the company and all other funds maintained by the company in respect of the life assurance business of the company.
History
Definition of
"
insurance funds
"
substituted by No 41 of 2005; inserted by No 89 of 2000.
interest income
, in relation to a taxpayer, means income consisting of interest, or a payment in the nature of interest, in respect of:
(a)
money lent, advanced or deposited; or
(b)
credit given; or
(c)
any other form of debt or liability;
whether security is given or not, other than:
(d)
an amount to the extent to which it is a return on an equity interest in a company; or
(e)
interest derived by the taxpayer from a transaction directly related to the active conduct of a trade or business; or
(f)
interest derived by the taxpayer from carrying on a banking business or any other business whose income is principally derived from the lending of money; or
(g)
interest received by the taxpayer during a year of income from a foreign company, where:
(i)
at any time during the year of income, the taxpayer had (or would have had, if the taxpayer were a company and a resident), a voting interest, within the meaning of section
334A
, amounting to at least 10% of the voting power, within the meaning of that section, in that company; and
(ii)
during the year of income or the preceding year of income, the company has not derived an amount of interest income exceeding 10% of the total profits derived by the company during the same year.
History
Definition of
"
interest income
"
inserted by
No 143 of 2007
, s 3 and Sch 1 item 18, 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.
intermediary
(Repealed by
No 32 of 2008
)
History
Definition of
"
intermediary
"
repealed by
No 32 of 2008
, s 3 and Sch 1 item 4, applicable to fund payments made in relation to the first income year starting on or after the first 1 July after 23 June 2008 and later income years. The definition formerly read:
intermediary
has the same meaning as in the
Income Tax Assessment Act 1997
.
Definition of
"
intermediary
"
inserted by
No 79 of 2007
, s 3 and Sch 10 item 4, applicable to the first income year starting on or after the first 1 July after 21 June 2007 and later income years.
international tax sharing treaty
(Repealed by No 101 of 2013)
History
Definition of
"
international tax sharing treaty
"
repealed by No 101 of 2013, s 3 and Sch 2 item 8, applicable: (a) in respect of tax other than withholding tax
-
in relation to income years starting on or after the date mentioned in subsection
815-15(2)
of the
Income Tax (Transitional Provisions) Act 1997
, as inserted; and (b) in respect of withholding tax
-
in relation to income derived, or taken to be derived, in income years starting on or after that date. The definition formerly read:
international tax sharing treaty
:
(a)
means an agreement between Australia and another country under which Australia and the other country share tax revenues from activities undertaken in an area identified by or under the agreement; and
(b)
does not include an agreement within the meaning of the
International Tax Agreements Act 1953
.
Definition of
"
international tax sharing treaty
"
inserted by
No 58 of 2006
, s 3 and Sch 7 item 35, effective 22 June 2006.
junior minerals exploration incentive tax offset
means a tax offset under Subdivision
418-B
of the
Income Tax Assessment Act 1997
.
History
Definition of
"
junior minerals exploration incentive tax offset
"
inserted by No 15 of 2018, s 3 and Sch 1 item 8, effective 1 April 2018. For application and transitional provisions, see note under s
177F(3)
.
life assurance company
has the meaning given to
life insurance company
by the
Income Tax Assessment Act 1997
.
History
Definition of
"
life assurance company
"
inserted by No 89 of 2000.
life assurance policy
has the meaning given to
life insurance policy
by the
Income Tax Assessment Act 1997
.
History
Definition of
"
life assurance policy
"
inserted by No 89 of 2000.
life assurance premium
has the meaning given to
life insurance premium
by the
Income Tax Assessment Act 1997
.
History
Definition of
"
life assurance premium
"
inserted by No 89 of 2000.
limited partner
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
limited partner
"
substituted by No 83 of 2004, s 3 and Sch 3 item 1, applicable to things done on or after 2 December 2003. Act No 83 of 2004, s 3 and Sch 3 item 7 also contains the following transitional provision:
7 Transitional
(1)
This item applies to a limited partnership:
(a)
that was formed as a legal entity on or after 2 December 2003 and before the day on which this Act received the Royal Assent; and
(b)
in respect of which an application has been made to the PDF Board for registration as a VCLP or an AFOF under the
Venture Capital Act 2002
; and
(c)
that could not be registered or conditionally registered as a VCLP or an AFOF before the day on which this Act received the Royal Assent only because it has a legal personality separate from that of its members.
(2)
If the PDF Board decided, before the day on which this Act received the Royal Assent, that it would have registered or conditionally registered a limited partnership to which this item applies as a VCLP or an AFOF under the
Venture Capital Act 2002
had this Act received the Royal Assent before that decision was made:
(a)
the PDF Board is taken to have granted registration or conditional registration of the limited partnership as a VCLP or an AFOF under that Act on the day on which that decision was made; and
(b)
that registration is taken to have been in force for the purposes of section 13-10 of that Act from that day.
The definition formerly read:
limited partner
means a partner of a limited partnership whose liability in relation to the partnership is limited.
Definition of
"
limited partner
"
inserted by No 136 of 2002, s 3 and Sch 2 item 3, applicable to the 2002-2003 income year and later income years.
limited partnership
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
limited partnership
"
substituted by No 83 of 2004, s 3 and Sch 3 item 2, applicable to things done on or after 2 December 2003. For transitional provision, see note under definition of
"
limited partner
"
. The definition formerly read:
limited partnership
means a partnership where the liability of at least one of the partners is limited.
Definition of
"
limited partnership
"
inserted by No 136 of 2002, s 3 and Sch 2 item 4, applicable to the 2002-2003 income year and later income years.
liquidator
means the person who, whether or not appointed as liquidator, is the person required by law to carry out the winding-up of a company.
listed public company
has the same meaning as in the
Income Tax Assessment Act 1997
.
Note:
For the meaning of
listed public company
in Schedule
2F
to this Act, see section
272-135
in that Schedule.
History
Definition of
"
listed public company
"
inserted by No 101 of 2023, s 3 and Sch 4 item 10, effective 1 January 2024.
live stock
(Repealed by No 101 of 2006)
History
Definition of
"
live stock
"
repealed by No 101 of 2006, s 3 and Sch 3 item 2, effective 1 January 2008. The definition formerly read:
live stock
does not include animals used as beasts of burden or working beasts in a business other than a business of primary production.
loss carry back tax offset
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
loss carry back tax offset
"
inserted by No 92 of 2020, s 3 and Sch 2 item 4, effective 1 January 2021.
Former definition of
"
loss carry back tax offset
"
repealed by No 96 of 2014, s 3 and Sch 2 item 3, effective 30 September 2014 and applicable to assessments for the income year before the income year in which this Schedule commences, for the income year in which this Schedule commences and for later income years. For transitional and saving provision see note under s
177C(1)
. The definition formerly read:
loss carry back tax offset
has the same meaning as in the
Income Tax Assessment Act 1997
.
Former definition of
"
loss carry back tax offset
"
inserted by No 88 of 2013, s 3 and Sch 5 item 28, effective 29 June 2013.
loss year
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
loss year
"
inserted by No 39 of 1997.
managed investment trust
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
managed investment trust
"
inserted by
No 79 of 2007
, s 3 and Sch 10 item 5, applicable to the first income year starting on or after the first 1 July after 21 June 2007 and later income years.
MEC group
has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
MEC group
"
inserted by No 117 of 2002.
medical expense rebate higher phase-in limit
(Repealed by No 11 of 2014)
History
Definition of
"
medical expense rebate higher phase-in limit
"
repealed by No 11 of 2014, s 3 and Sch 3 item 3(b), effective 1 July 2019. The definition formerly read:
medical expense rebate higher phase-in limit
has the meaning given by subsection 159Q(5).
Definition of
"
medical expense rebate higher phase-in limit
"
inserted by No 84 of 2013, s 3 and Sch 5 item 3, applicable to assessments for the 2012-13 year of income and later years of income.
medical expense rebate lower phase-in limit
(Repealed by No 11 of 2014)
History
Definition of
"
medical expense rebate lower phase-in limit
"
repealed by No 11 of 2014, s 3 and Sch 3 item 3(c), effective 1 July 2019. The definition formerly read:
medical expense rebate lower phase-in limit
has the meaning given by subsection 159Q(6).
Definition of
"
medical expense rebate lower phase-in limit
"
inserted by No 84 of 2013, s 3 and Sch 5 item 4, applicable to assessments for the 2012-13 year of income and later years of income.
Medicare levy
means Medicare levy imposed as such by any Act as assessed under this Act.
History
Definition of
"
Medicare levy
"
inserted by No 12 of 2012, s 3 and Sch 6 item 219, effective 21 March 2012.
Medicare levy (fringe benefits) surcharge
has the meaning given by the
Income Tax Assessment Act 1997
.
History
Definition of
"
Medicare levy (fringe benefits) surcharge
"
inserted by No 12 of 2012, s 3 and Sch 6 item 220, effective 21 March 2012.
member
of a consolidated group or MEC group has the same meaning as in the
Income Tax Assessment Act 1997
.
History
Definition of
"
member
"
inserted by No 117 of 2002.
member of a family tax benefit (Part B) family without shared care
: a taxpayer is a
member of a family tax benefit (Part B) family without shared care
if:
(a)
the taxpayer, or the taxpayer
'
s spouse while being the taxpayer
'
s partner (within the meaning of the
A New Tax System (Family Assistance) Act 1999
), is eligible for family tax benefit at the Part B rate (within the meaning of that Act); and
(b)
clause
31
of Schedule
1
to that Act does not apply in respect of the Part B rate.
History
Definition of
"
member of a family tax benefit (Part B) family without shared care
"
inserted by No 105 of 2010, s 3 and Sch 1 item 37, effective 1 October 2010.
minerals
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
mining withholding tax
means income tax payable in accordance with section
128V
.
History
Definition of
"
mining withholding tax
"
inserted by No 27 of 1979.
mortgage
includes any charge, lien or encumbrance to secure the repayment of money.
mutual life assurance company
means a life assurance company the profits of which are divisible only among the policy holders.
History
Definition of
"
mutual life assurance company
"
substituted by No 101 of 2004, s 3 and Sch 11 item 44, effective 1 July 2000. The definition formerly read:
mutual life assurance company
has the same meaning as in Division
8
of Part
III
(as in force immediately before 1 July 2000).
Definition of
"
mutual life assurance company
"
inserted by No 89 of 2000.
natural resource
has the meaning given by subsection
995-1(1)
of the
Income Tax Assessment Act 1997
.
necessary connection with Australia
(Repealed by
No 168 of 2006
)
History
Definition of
"
necessary connection with Australia
"
repealed by
No 168 of 2006
, s 3 and Sch 4 item 14, applicable to CGT events that happen on or after 12 December 2006. The definition formerly read:
necessary connection with Australia
has the same meaning as in the
Income Tax Assessment Act 1997
.
Definition of
"
necessary connection with Australia
"
inserted by No 46 of 1998.
net capital gain
has the same meaning as in the
Income Tax Assessment Act 1997
.