Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 119 - Minimum rate of tax on capital gains  

Operative provisions  

SECTION 119-15   Exception for recipients of certain payments  

119-15(1)    
Section 119-10 does not apply to you if you receive, at any time during the income year, a payment covered by any of subsections (2) to (5) .

Social Security Act 1991 payments

119-15(2)    
This subsection covers the following payments under the Social Security Act 1991 :

(a)    an age pension under Part 2.2 of that Act;

(b)    an austudy payment under Part 2.11A of that Act;

(c)    a carer payment under Part 2.5 of that Act;

(d)    a disability support pension under Part 2.3 of that Act;

(e)    a double orphan pension under Part 2.20 of that Act;

(f)    a jobseeker payment under Part 2.12 of that Act;

(g)    parenting payment under Part 2.10 of that Act;

(h)    special benefit under Part 2.15 of that Act;

(i)    youth allowance under Part 2.11 of that Act.

Other social support payments

119-15(3)    
This subsection covers the following payments:

(a)    family tax benefit under the A New Tax System (Family Assistance) Act 1999 ;

(b)    a stillborn baby payment under the A New Tax System (Family Assistance) Act 1999 ;

(c)    farm household allowance under Part 2 of the Farm Household Support Act 2014 ;

(d)    parental leave pay under the Paid Parental Leave Act 2010 ;

(e)    a payment under the scheme known as the ABSTUDY scheme that includes an amount identified as living allowance.

Veterans ' Entitlements Act 1986 payments

119-15(4)    
This subsection covers the following payments under the Veterans ' Entitlements Act 1986 :

(a)    an age service pension under Division 3 of Part III of that Act;

(b)    a carer service pension under former Division 6 of Part III of that Act, as saved by clause 8 of Schedule 5 to that Act;

(c)    income support supplement under Part IIIA of that Act;

(d)    an invalidity service pension under Division 4 of Part III of that Act;

(e)    a partner service pension under Division 5 of Part III of that Act;

(f)    a veteran payment under section 45SB of that Act;

(g)    a pension under Part II or IV of that Act at a rate determined under or by reference to subsection 30(1) of that Act;

(h)    a pension under Part II or IV of that Act at a rate determined under or by reference to paragraph 30(2)(a) or (b) of that Act;

(i)    a pension under Part II or IV of that Act at a rate applicable under section 23, 24 or 25 of that Act.

Military Rehabilitation and Compensation Act 2004 payments

119-15(5)    
This subsection covers the following payments under the Military Rehabilitation and Compensation Act 2004 :

(a)    a Special Rate Disability Pension under Part 6 of Chapter 4 of that Act;

(b)    the weekly amount mentioned in paragraph 234(1)(b) of that Act, including a reduced weekly amount because of a choice under section 236 of that Act;

(c)    a lump sum mentioned in subsection 236(5) of that Act.