Income Tax Assessment Act 1997



Division 15 - Some items of assessable income  

Operative provisions  

SECTION 15-45   Amounts paid under forestry agreements  

Your assessable income includes an amount you receive under an agreement for the planting and tending of trees for felling if:

(a) you are the manager of the agreement as mentioned in section 82KZMG of the Income Tax Assessment Act 1936 ; and

(b) the amount satisfies, for the entity that paid it, the requirements of that section.

The amount is included for the income year in which the entity can claim a deduction for the amount.

No part of an amount included under subsection (1) is included in your assessable income for a later income year.


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